Huge move for popular pie company

A popular destination for the classic meat pie has been sold to a major food and beverage group for $10 million.

Retail Food Group (RFG) has acquired the iconic Queensland pie maker Beefy’s Pies.

With stores in Gympie, Brisbane and on the Sunshine Coast, Beefy’s Famous Aussie Pies is an institution for many visitors to the southeast Queensland region.

RFG CEO Matt Marshall said there was a number of appealing factors for acquiring Beefy’s, including its loyal customer base and its ability to foster a passionate business model since it opened its first store in 1997.

“RFG is pleased to be in a position where it can look for inorganic growth opportunities,” Mr Marshall said.

“The acquisition of Beefy’s is significant not only because it is a great business that is complementary to our existing brand portfolio but because it marks the beginning of RFG’s next phase of growth,” he said.

“We look forward to working with the Hobbs family and all Beefy’s employees to ensure their pies can be enjoyed by more and more Australians.”

Beefy’s founder and CEO Mark Hobbs said he was proud of what the family-owned business has achieved in its 26 years.

“Beefy’s is now a much-loved Australian brand, has nine strongly performing stores across Queensland and a manufacturing facility on the Sunshine Coast, employing 180 people, Mr Hobbs said.

“Joining the RFG network will help Beefy’s take the next step in its growth journey as we will become part of a team with many decades of retail experience, as well as benefit from being in a group with a larger balance sheet and access to support functions.”

Mr Hobbs will continue in an advisory role during the first year to maintain standards and provide support.

RFG confirmed there will be no immediate changes to the Beefy’s team, business operations or supply partnerships.

The award-winning pie company has a long history of taking out the top gong at the Official Great Aussie Meat Pie competition, having won gold for its Beefy’s Signature Steak pie and for the Beefy’s Gluten Free Steak, Bacon and Cheese in 2022.