AFR: Quadrant dips into Fortitude’s $300m-plus commercial food biz

May 6, 2024

Date: May 6, 2024

Source: Australian Financial Review


Quadrant Private Equity is betting on a Sydney business whose flavour merchants are behind some of the biggest fast-food businesses in the country.

Street Talk can reveal Birch & Waite, which works with the likes of Guzman y Gomez and HelloFresh to level up their condiment game and keep customers coming back for smokey chipotle burritos and penne alla vodka, has agreed terms that will see the storied buyout firm put growth equity into the 30-year-old commercial food business.

Sources said the Chris Hadley-led Quadrant had made the deal from its seventh buyout fund, valuing the Sydney-based high-growth, high-margin business at just above $300 million.

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