Renowned Australian bakery Balfours has recently been sold to another Australian company—Aus Pie Co. Balfours, which is based in South Australia, has been owned by San Remo for the past 15 years. It will now we owned by Western Australia-based food company Aus Pie Co, which also acquired Mrs Mac’s Pies at the end of last year.

In a statement, San Remo said, “Fifteen years ago, we took the opportunity to buy Balfours and apply our skills to reinvigorating the iconic bakery business and brand, which we have done successfully.

“We are pleased Australian ownership will be retained with Balfours’ purchase by specialist pie-maker, Aus Pie Co.”

Although details of the sale have not yet been released, Aus Pie Co has expressed its plans and wishes to grow the business and expand what is already an iconic brand.

“Balfours is older than Mrs Mac’s, but they’re both very iconic brands within the Australian pie industry,” Aus Pie Co owner Bruce Feodoroff told ABC.

“We intend to keep them that way and grow them bigger than they’ve ever been… [by] expanding the brand and looking for further opportunities, not only within Australia—we sell product and export to New Zealand.

“One of the opportunities we see for the brand is to take that nationally, utilising the distribution points we have. We’re certainly not letting the brand disappear, and for al the recipes and everything that go with that brand is what we will continue with.”