Founders First today announced it has acquired a 100% stake of Australian export business Momentum Food & Wine.
Established in 2006, Momentum exports a range of products, including wine, through Asia, Europe and the Americas.
With Momentum’s core capability in exporting , the business is only one of 300 companies to be accredited as an Australian Trusted Trader, which status has a number of benefits including a streamlined customs process for exporting products.
Founders First CEO Mark Haysman said “growing exports for partner brands within its portfolio is an important component of their partners growth plan and Momentum has the existing relationships in key export markets to make this happen.
“There is a growing demand for premium Australian products abroad, and this acquisition means we have an established pathway into priority markets, including China “ Mark said
“As Founders First extends its portfolio of craft beer, spirits and emerging craft beverage partners, there is a clear opportunity to grow by taking these premium craft brands to Asia and other key international beverage markets.”
Momentum this year commenced distribution of craft beer brand, Jetty Road, to export markets and is currently exhibiting at the China International Import Expo in Shanghai as recently attended by Australia’s Minister for Trade, Simon Birmingham.
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Contact: Paul Zennaro