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Indigestion at Maggie Beer Holdings

Indigestion at Maggie Beer Holdings

It’s the $10 million boost to the bottom line that investors don’t like to see. Earlier this week, the gourmet food empire named for high-profile cook Maggie Beer said it would not need to pay the founders of a hampers group the last payment in the $40 million deal – because it missed sales targets.

It has been a long slide for the company – best known for its eponymous stock, pate and other gourmet food items – over the last 12 months. Last June, Maggie Beer Holdings was worth around $200 million. On Friday, its market capitalisation was just under $50 million.

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Simon Evans
Simon EvansSenior reporterSimon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com

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Original URL: https://www.afr.com/companies/retail/indigestion-at-maggie-beer-holdings-20230531-p5dcs2