Australia’s Tempo Strikes Deal To Buy Spring Gully Assets Out Of Administration

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Australian group Tempo has acquired Spring Gully Foods’ brands and IP after nan local condiments maker fell into management for a 2nd time.

Spring Gully, tally by fourth-generation family members Russell Webb, Kevin Webb and Tegan Hack, was placed into administration a month ago. 

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It followed a akin section successful 2013, erstwhile nan institution was besides placed nether outer power earlier later exiting nan process.

Spring Gully, which has operated for nearly 80 years, is known for products specified arsenic sauces, relishes, pickled onions and gherkins.

Its lines are sold nether nan Spring Gully, Gardener, Leabrook Farms and Ozemite labels.

The financial specifications of nan transaction pinch Tempo person not been made public. 

In a connection announcing nan deal, Tempo said it is “safeguarding 1 of Australia’s astir beloved and historical nutrient brands”.

Just Food has approached Tempo for further specifications connected nan woody and nan company’s plans for its caller assets. Spring Gully had 34 unit erstwhile it went into administration.

In nan statement, Tempo said location would beryllium a “renewed attraction connected invention and semipermanent growth”.

A study put together by nan administrators, seen by Just Food, said nan title Spring Gully faced meant it could not generated nan margins needed to screen overheads. Spring Gully had besides mislaid “key customer contracts”, which contributed to a 25% autumn successful gross successful nan company’s 2025 financial year, nan study said.

In nan twelvemonth to nan extremity of June, Spring Gully’s “trading income” was A$15.1m (US$9.8m), versus A$19.1m 12 months before. The institution made a pre-tax nonaccomplishment of A$1.3m, against a profit of A$1.95m successful nan twelvemonth to 30 June 2024.

In Tempo’s statement, executive head Nicholas Stergiotis said: “Spring Gully Foods holds a typical spot successful nan hearts of Australian consumers. We’re proud to guarantee this iconic marque continues its travel nether nan Tempo Group, backed by our beardown FMCG web and committedness to quality.

“This acquisition besides strengthens our beingness successful nan shelf-stable and pantry equipment sector, aligning with our broader strategy to turn our multi-brand and private-label business.” 

In nan first lawsuit of administration, the business ultimately emerged after a surge successful user purchases and securing a caller proviso agreement. 

Tempo operates across fast-moving user goods, consumer electronics and appliances.