Sale of Gourmet Garden to McCormick & Company for A$150 million

April 2016

We are pleased to announce the sale of Advent 6’s shareholding in Botanical Food Company, the owner of Gourmet Garden, to McCormick & Company, a global leader in spices, seasoning mixes and condiments. The transaction value of A$150 million equated to approximately 12 times EBITDA, resulting in a highly successful investment for Advent 6 investors.

Gourmet Garden is a great Australian success story with its locally grown chilled herb products now sold in more than 25,000 retail outlets across 15 countries. Founded in 1999, the company has approximately 200 employees and a state of the art manufacturing facility in Queensland, Australia. At exit, the business had annual sales of more than A$70 million and was growing rapidly.

Advent’s investment in December 2013 funded the roll out of the new lightly dried product range, which is now sold across Australia, North America and Europe. The product is a world first, developed in Australia. McCormick expects to continue the double-digit sales growth through their expanded distribution, increased brand marketing and greater household penetration.

The sale of Gourmet Garden is the second exit from the Advent 6 Fund after the IPO of Integral Diagnostics in October 2015.

Read More

28 September 2021 The following article is from the AVCJ September 2021 edition, profiling Advent Partners’ successful generational change and strategic repositioning. Written by Tim Burroughs. You can read the article on the AVCJ website here —————————————————————————————————– GP Profile: Advent Partners…

18 August 2021 Digital signage software company, Mandoe today announced it has launched a self-service digital signage platform to help businesses harness the power of digital signage. After nearly a decade of powering digital signage for large businesses like David…

11 August 2021 Advent Partners is pleased to announce that the Advent Partners 2 Fund has invested in Zero Latency VR, the global leader in the multi-player, Free Roam Virtual Reality (‘FRVR’) space. The Business is widely regarded as the…

11 June 2021 Brad Lynch was recently a guest on a podcast hosted by John Keeves, of the BLS Report, exploring the Environmental, Social and Governance factors (ESG's), how they affect investment decisions and how ESG factors are becoming increasingly…

June 2021   Flintfox International, a New Zealand-based provider of revenue management software, is keen to make acquisitions under its majority owner, Australian private equity firm Advent Partners, according to the company’s executives and Advent’s lead partners on the investment.…

29 June 2021 Compass Education, the Advent Partners-backed Australian provider of school management software, is working on an acquisition to accelerate market entry into a new international market, said Robert Radcliffe-Smith, Managing Partner at Advent. Without disclosing in which new market…

  18 January 2021 Symon Vegter was recently hosted by Edward Michelsberg of Emu Search on their Leadership Revolution podcast series. They discuss Advent’s approach to investing and the importance of great founders combined with talent management to grow businesses.…

18 December 2020 Check out our December 2020 Newsletter for an update on our current portfolio, team news and other projects. Click here to download: Advent Newsletter December 2020

15 December 2020   We are pleased to announce the successful listing of SILK Laser Clinics on the ASX. This is a significant day in the history of the Company, and an amazing milestone. SILK was co-founded by CEO, Martin…

December 2020 Congratulations to SILK Laser for winning the Franchise Council of Australia’s 2020 Australian Emerging Franchisor of the Year Award. A well-deserved achievement, and a testament to the hard work that the team has put in, especially over the…