Pure Foods Tasmania will raise as much as $6 million by selling shares to new and existing investors to fund an expansion, the company confirmed on Thursday.
The company behind brands including Premium Tasmanian Pate and Cashew Creamery will use the funds to buy production machinery and fund growth in sales, managing director, Michael Cooper said.
Pure Foods has not turned a profit since its startup in 2015, but this is due to investment back into the business, Mr Cooper said.
Our journalists work hard to provide local, up-to-date news to the community. This is how you can continue to access our trusted content:
Sign up for our newsletter to stay up to date.