Anacacia agrees to sell Rafferty's to H.J. Heinz
Anacacia Capital has agreed to sell baby-food producer Rafferty’s Garden to H.J. Heinz, prompting a review by the Australian Competition and Consumer Commission (ACCA). There is sufficient crossover between the two companies’ businesses that the commission must rule on whether a merged entity would be in consumers’ interests.
The ACCA has invited industry participants to make submissions by November 16 and it hopes to deliver a verdict in early December.
Rafferty's claims to be the second-largest baby-food business in Australia with a 30% market share. The ACCA noted that the company is a leading wholesale supplier of wet and dry infant food, although no products in the former category are packaged in cans or glass jars. Heinz, meanwhile, is the only manufacturer of canned wet infant food in Australia and a leading player in glass jar-packaged food.
Anacacia completed the buyout of Rafferty's in 2010 alongside SalesLink Australasia, investing via its A$50 million ($51 million) debut fund. The private equity firm is currently raising its second fund, with a target of up to A$150 million.
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