The struggling Pie Face business has been bought by United Petroleum, which plans to roll out the company’s baked goods to its service stations.
Six months after Pie Face fell into receivership for the second time in three years, United has acquired its intellectual property and retail network for an undisclosed sum.
Pie Face will continue to run as a standalone business, United Petroleum marketing manager Andrew English says.
“We are diversifying our network and it will give us an improved offering for our (service station) customers but it will also be its own business,” he told AAP.
“We are looking at investing in Pie Face and that will involve looking at new lines.”
Pie Face went into receivership in October after financier TCA Global tried unsuccessfully to turn the business around from its collapse in December 2014 with more than $20 million in debt.
United Petroleum has over 400 service stations.
Pie Face chief executive Bruce Feodoroff will continue to lead the food chain.
Access exclusive analysis, locked news and reports with Inside Retail Weekly. Subscribe today and get our premium print publication delivered to your door every week.
