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BREAKING NEWS: Tempo Snaps Up Another Struggling Company

Weeks after acquiring healthy food Company Nourish Foods the Tempo Group has announced further acquisitions with the purchase of the Orange Power, Organic Choice, Trix, Aware Sensitive, Billie Goat, Stain Magic, Ulta3, MUD and Medi Manager brands in Australia.

In what is seen as another turnaround opportunity for struggling food Companies Tempo has acquired the assets from the administrators of the Hiro Brands Group.

Hiro was well known for their portfolio of Australian products including cleaning and personal care consumer products brands, which was created from the merger of The Heat Group and Aware Environmental in 2022.

Tempo a global Company based out of Sydney is also a major player in the appliance and consumer electronics market with a wide reach both domestically and internationally.

KPMG Australia’s David Hardy, James Dampney and James Stewart were appointed voluntary administrators over Hiro Brands Ltd and related entities on 2 January 2024.

The acquisition is scheduled to complete on 28 February 2024.

Tempo Executive Director, Nicholas Stergiotis said: “The acquisition of the Hiro Brands Orange Power, Organic Choice, Trix, Aware Sensitive, Billie Goat, Stain Magic, Ulta3, MUD and Medi Manager forms an important strategic investment for the Tempo Group and builds upon our focus in expanding our existing FMCG business within the health and wellbeing segment.

”Building on the success of the private label team and the recent acquisitions of Brunswick and Paramount Seafood and Nourish Foods, Tempo’s ongoing strategy is to evolve into a strong multi-brand business focused on creating innovative healthier options for the entire family.Tempo Group is committed to creating positive social and environmental impact and has been part of a global community of business leaders using business as a force for good.“The acquisition of Hiro Brands Portfolio means that the brands and great products made popular by Australian families can continue to service retail partners and customers in the Australian and New Zealand markets,” Stergiotis said.

He noted, “For Tempo, this investment enhances our expanding FMCG division as we look forward to growing Orange Power, Organic Choice, Trix, Aware Sensitive, Billie Goat, Stain Magic, Ulta3, MUD and Medi Manager. These brands have a strong and loyal customer base and have been leading the market with innovative products for many years. We look forward to seeing the range continue to grow and innovate under the new ownership of Tempo.”