Morgan BellMeat Pie in the US Sky
January 12th 2007 11:36
Our so traditional meat pies are hitting the US market. Americans ask many distrusting questions before trying them. Patties Foods and Vili’s are heading the incursion in the American market. Stay with me for more.
The news today, 12 January 2007, is that “two major Australian meat pie companies, Four'N Twenty and Vili's, have launched grand expansion plans in the US designed to win over American tastebuds. “
“In the not too distant future in Manhattan, Aussie meat pie carts will compete on busy street corners with the city's famous hot dog stands.”
“Vending machines will sit alongside Coke and chip machines offering hot meat pies for hungry Americans on the go.”
“Sports venues such as New York's Yankee Stadium or Los Angeles Lakers' Staples Centre will smell like the MCG or SCG, with American sports fans offered the Aussie meat pie in addition to the traditional hot dog, nachos or hamburger.”
“At stake are billions in export dollars for Melbourne-based Four'N Twenty and Adelaide's Vili's.”
“"It's the greatest Western market in the world and it's untapped," says Joshua Kearney, who is leading the push by Vili's in the US.”
“Despite the size of the US, with its 300 million residents, the meat pie is a stranger to Americans.”
“When Americans think "pie", it is dessert, whether it's an apple, pumpkin or banana cream pie.”
“"Typically, pie exporters think the key challenge to them will be overcoming US food and labelling regulations," says Australian Trade Commissioner in Los Angeles Kylie Hargreaves. "In fact, the key obstacles are the American consumer's lack of familiarity with meat pies and then the sheer scale of the US marketplace.
“"Managing your production and distribution channels in the US is normally what makes or breaks an Aussie pie exporter."”
“Kearney, the 27-year-old chief executive of his family's company, Aussie Imports, which has the US rights to distribute Vili's products, has secured a key distribution deal with American food giant US Foodservices.”
“"They have 78 distribution centres across America, so that will give us some serious penetration in restaurants, pubs, clubs, sports venues," Kearney says. "Anyone across America will be able to get a Vili's pie."”
This news was published in the online version of The Australian under the title “Meat pies for US as Aussie makers play ketchup” and was produced by AAP.
Patties Foods (ASX: PFL), owner of the Four’N Twenty brand is a listed company which started trading in the ASX in 10 November 2006.
The other company in todays news, Vili’s, is privatly held. General information can be found in its website in this address: www.vilis.com.
Patties Foods is based in Bairnsdale, Victoria. Its Managing Director is Richard Rijs and its website is www.patties.com.au. Patties prospectus is available for download from their website.
PFL has a number one market share in the retail frozen savoury segment of 50.5 per cent and a number two in the dessert segment with 17.7 per cent.
PFL reports an EPS growth for 2006 of 5.2 per cent and an EBITDA of 18.4 per cent for the same period.
PFL’s inception figure was $1.90 and its price is now $2.15, a 13 per cent appreciation.
End
The news today, 12 January 2007, is that “two major Australian meat pie companies, Four'N Twenty and Vili's, have launched grand expansion plans in the US designed to win over American tastebuds. “
“In the not too distant future in Manhattan, Aussie meat pie carts will compete on busy street corners with the city's famous hot dog stands.”
“Vending machines will sit alongside Coke and chip machines offering hot meat pies for hungry Americans on the go.”
“Sports venues such as New York's Yankee Stadium or Los Angeles Lakers' Staples Centre will smell like the MCG or SCG, with American sports fans offered the Aussie meat pie in addition to the traditional hot dog, nachos or hamburger.”
“At stake are billions in export dollars for Melbourne-based Four'N Twenty and Adelaide's Vili's.”
“"It's the greatest Western market in the world and it's untapped," says Joshua Kearney, who is leading the push by Vili's in the US.”
“Despite the size of the US, with its 300 million residents, the meat pie is a stranger to Americans.”
“When Americans think "pie", it is dessert, whether it's an apple, pumpkin or banana cream pie.”
“"Typically, pie exporters think the key challenge to them will be overcoming US food and labelling regulations," says Australian Trade Commissioner in Los Angeles Kylie Hargreaves. "In fact, the key obstacles are the American consumer's lack of familiarity with meat pies and then the sheer scale of the US marketplace.
“"Managing your production and distribution channels in the US is normally what makes or breaks an Aussie pie exporter."”
“Kearney, the 27-year-old chief executive of his family's company, Aussie Imports, which has the US rights to distribute Vili's products, has secured a key distribution deal with American food giant US Foodservices.”
“"They have 78 distribution centres across America, so that will give us some serious penetration in restaurants, pubs, clubs, sports venues," Kearney says. "Anyone across America will be able to get a Vili's pie."”
This news was published in the online version of The Australian under the title “Meat pies for US as Aussie makers play ketchup” and was produced by AAP.
Patties Foods (ASX: PFL), owner of the Four’N Twenty brand is a listed company which started trading in the ASX in 10 November 2006.
The other company in todays news, Vili’s, is privatly held. General information can be found in its website in this address: www.vilis.com.
Patties Foods is based in Bairnsdale, Victoria. Its Managing Director is Richard Rijs and its website is www.patties.com.au. Patties prospectus is available for download from their website.
PFL has a number one market share in the retail frozen savoury segment of 50.5 per cent and a number two in the dessert segment with 17.7 per cent.
PFL reports an EPS growth for 2006 of 5.2 per cent and an EBITDA of 18.4 per cent for the same period.
PFL’s inception figure was $1.90 and its price is now $2.15, a 13 per cent appreciation.
End
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