Entrepreneur Tony Quinn is `having a look’ at Next Generation Pet Foods

Entrepreneur Tony Quinn, who developed and sold VIP Pet Foods for a motza and brought chocolatiers Darrell Lea back to life is `having a look’ at another business venture.

Tony Quinn's Aston Martin Vulcan, a car limited to 24 in the world.

The man with the Midas touch and a liking for fast cars Tony Quinn is considering another foray into the pet food sector.

It’s been reported that Sunshine Coast Next Generation Pet Foods has engaged bean counters EY’s strategy and transactions team to launch a sale process.

Quinn famously founded a fat-rendering plant in New Zealand which led to a pet food business, VIP Petfoods, that he sold for $410m to Quadrant Private Equity in 2015.

He also bought struggling chocolatier Darrell Lea for $11m, turning the business around and selling it for $200m.

When Citybeat contacted Quinn (illustrated) about NextGen he says they’re “having a look”.

“There is nothing to be said at this stage of the game. We are going through a process that’s controlled by NextGen. Best idea is to talk to them and not to me.” he says.

Tony Quinn's Aston Martin Vulcan, a car limited to 24 in the world.

Interestingly, NextGen director Rex Devantier has had a long association with Quinn.

He is currently group general manager of Quinn’s family office Quinnfinity Group and director of Triple Eight Race Engineering of which Quinn is a major shareholder.

Devantier was also CEO of VIP Group of companies for 15 years.

Next Generation Pet Foods is one of Australia’s largest manufacturers and wholesalers of high-end Australian dog and cat treats and specialises in the distribution of its own holistic dry pet food.

The business manufactures seven brands, including Australian Pet Treat Company, Dentapet and Snack-its, as well as producing private label products.

Golden

ASX-listed Great Divide Mining has started operations at the Challenger gold mine site, in the riverina region in NSW’s south west.

CEO Justin Haines says the have completed final checks at the Adelong mine and they expect to produce initial concentrate at the Challenger process plant this week.

“Next step will be to separate out free gold in preparation for GDM’s First Gold pour,” he says.

With Queensland business heavyweights Paul Ryan, Adam Arkinstall and Simon Tolhurst the Brisbane CBD based company is looking forward to its first gold pour.

“The production of gold from the Challenger mine is not only historically significant but will deliver to GDM its’ first revenue stream,” Haines says.

“Separation of free gold for the first gold pour will commence in the next couple of weeks. I just can’t wait for that first gold pour.”

Great Divide Mining is hoping for its first gold pour at its Challenger mine in the next couple of weeks.

Partnering

Privately owned Valory Resources, led by heavy hitters in Queensland the coal sector, has appointed Macquarie Bank as its corporate partner to assist it in advancing its Canadian operations.

Macquarie has been tasked with identifying one or more strategic partners for Valory as it moves towards being the lead underground business in the development and production of high quality premium low volatile steel making coal in Alberta.

Valory Resource tasks Macquarie to help find partners for its Canadian operations.

Head of corporate and project finance at Valory Resources Glenn Vassallo says Macquarie’s

strong industry presence and global networks makes it an ideal partner.

He says the financial giant will be important after the reinstatement of Valory’s flagstone project, Blackstone in January.

Blackstone, together with Mine 14, will have Valory focused on a short-medium term development and production profile of about 5 to 7 million tonnes per annum of PLV steel making coal over the next three to five years.

Originally published as Entrepreneur Tony Quinn is `having a look’ at Next Generation Pet Foods