The petrol and convenience company has acquired the intellectual property and retail network of Pie Face, which went into voluntary receivership last October, for an undisclosed sum.
United Petroleum CEO Gary Brinkworth says United will leverage its scale and nearly 40 years of retail experience to help grow the food chain and protect the inherent value of the Pie Face brand.
“When the opportunity to acquire Pie Face emerged, we identified tremendous value in its brand, as well as its growth potential as a standalone business,” he said.
“We took the decision that Pie Face would fit perfectly with our strategy of growing our business and achieving scale by expanding into new categories whilst growing customer numbers and building capability.”
Under the sale agreement, Pie Face CEO Bruce Feodoroff will continue to lead the food chain, ensuring continuity for existing franchisees and staff.
United has also committed to maintaining supply for Pie Face, ensuring “business as usual” for staff employed in the commercial kitchen, franchisees, and head office.
“This acquisition provides certainty for staff as many local jobs and small-business operators have been protected and staff entitlements have been retained,” Mr Brinkworth said. “United will benefit from retaining this experience and corporate knowledge.
“United is a financially strong Australian business with a strategy in place to ensure Pie Face has a successful future.”