Maggie Beer sells up her food empire for $10m
Maggie Beer has bowed out of the food empire she built up and sold the final half of her gourmet products business to ASX-listed food and beverage group Longtable for $10 million.
Beer had previously sold 48 per cent of her Maggie Beer Products business to Longtable in 2016 for $15 million. She said she will focus on working with the Maggie Beer Foundation.
Speaking to SmartCompany, Beer said she it was time to “smell the roses”.
“I don’t want to say I’m feeling my age, but at 74 I need to be more free, and I need to be able to do all the things a person who has some time on their hands can do,” Beer said. “It’s a combination of wanting to have more time to work on the things I love, and have more time to stop and smell the roses.
“But that doesn’t mean retiring — I still have my foundation and that requires a lot of my energy. But now I actually have more time to be in my garden.”
The company will keep the ‘Maggie Beer’ name.
Sheridan Randall, 1st March 2019
