Whole Kids owner Nourish Foods acquired out of administration by Tempo Group

Nourish Foods, the parent company of children’s snack food brand Whole Kids has been bought by retail supplier Tempo Group just four weeks after it entered voluntary administration.

Whole Kids, and its sister brands Offbeat and Just Add, will now join the family-owned Tempo Group, which has operated since 2000 and specialises in supplying fast-moving consumer goods, electronics, and private label brands to retailers in Australia, New Zealand, the UK and North America.

Tempo executive director Nicholas Stergiotis described the acquisition of Nourish Foods, the price of which has not been disclosed, as an “important strategic investment” for the group, which he says is focused on expanding its existing food and beverage portfolio in the health and wellness space. 

Whole Kids was founded by Monica Meldrum and James Meldrum in 2005 and manufactures a range of organic, additive-free and allergen-friendly snacks for families.

Over the course of its 18 years, the certified B Corp raised approximately $2.4 million via equity crowdfunding, supplying its products to thousands of stores within Australia and abroad and later coming under the parent brand of Nourish Foods.

In 2023, Nourish Foods added new brands Offbeat and Just Add to its business. 

In early September, the company called in administrators Tim Heesh and Mark Everingham from TPH Advisory due to challenges accessing working capital after a deal with a potential investor fell through. John McInerney and Matt Byrnes of Grant Thornton were subsequently appointed as joint and several receivers and managers of the business, according to a statement from Grant Thornton.

Nourish Foods had been in the process of attempting to raise more than $2 million via its third equity crowdfunding raise on Birchal when talks with the potential investor began. That campaign was paused as a result of the talks.

Stergiotis said in a statement that the acquisition means consumers will continue to be able to purchase Nourish Foods’ brands in Australia and New Zealand.

“For Tempo, this investment enhances our expanding food and beverage division as we look forward to growing all the Nourish brands and realising the vision that James and Monica have created,” he added. 

Nourish Foods founder and CEO Monica Meldrum said the company’s range will “continue to grow and innovate under the new ownership of Tempo”.

“The Whole Kids brand has a strong and loyal customer base, and has been leading the market with innovative products for almost two decades,” she added.