Every year in The Top 100 Australian Food & Drink Companies report, created in collaboration with IBISWorld, we take a look at which companies have shot up the ranks.
Changes in reporting period put Select Harvests at the top of this year’s list, with the nuts, dried fruit and health food company jumping 22 places from #92 to #71. Its startling 341.65 per cent revenue rise was mainly due to changing from a December to September reporting period. The company's brands are Lucky, Sunsol, NuVitality, Allinga Farms and Renshaw, and 40 per cent of its business is private label.
Turosi rose 16 places from #52 to #36 and reported 58.02 per cent revenue growth. This was a solid build on its inaugural appearance in the report in 2019, when it entered the list at #52 following a merger between OSI International Foods and Turi Foods. This was its first full financial year.
Huon Aquaculture rose 16 places to #58 with a reported 21.8 per cent increase in revenue. What was interesting about this was the growth did not come from domestic lockdown sales, Huon actually had two domestic contracts end, but export. Despite supply chain disruptions due to COVID-19, the company grew its overseas sales by 378 per cent.
Cordina Chicken Farms also rose 16 places to #36 and a 9.39 per cent revenue increase, reflecting the strong performance of the poultry sector overall. Golden Cockerel moved 11 places from #91 to #80.
MPD Dairy Products continued its year-on-year quietly-quietly approach to growth, moving 15 places from #79 to #64 and recording 22.45 per cent revenue growth. In 2019 it jettisoned from the back of the pack at #91 to #79. It has been operating for more than 40 years and is one of the largest suppliers of dairy ingredients to the Australian manufacturing market.
Peters Ice Cream climbed from #66 to #52, reporting 32.23 per cent revenue growth. This was due to its parent company Froneri buying New Zealand ice cream company Tip Top through a local subsidiary, which was in turn owned by Peters’ parent company in Australia.
AACo jumped 13 places from #51 to #38, a turnaround from 2019 when it fell from $46 to #51. After a revenue drop of 22.09 per cent last year, it reported 46.86 per cent growth this year.
And Vesco Foods, a ready meals manufacturer, moved 12 places from #96 to #84, being one of the companies to benefit from COVID-19 restrictions and changing consumer behaviour.
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Top 100: Food & Drink Business Podcast – editor Kim Berry and IBISWorld industry analyst Matthew Reeves dissect this year’s report.
Editorial by Food & Drink Business. All data sourced from IBISWorld.
