The $22b New York-listed giant is making its third acquisition in five years in Australia, as demand for potato cakes and hash browns rises.
Lamb Weston is a United States giant with a sharemarket value of $22 billion on the New York Stock Exchange.
Crackerjack Foods, a privately owned Melbourne manufacturer of potato cakes, has been bought out by US french fries giant Lamb Weston, which is backing the potato cakes and hash browns market to grow strongly as Australians demonstrate a preference for pub dining over restaurants. Simone Anderson, vice-president and general manager of the Oceania region for Lamb Weston, said potato prices in Australia had increased by 20 to 25 per cent in the past 18 months, but had stabilised. Australia was struck by a shortage of potatoes in 2022 because of a poor growing season in the eastern states.
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