"Put it on a bagel!"
A Bagel in Every Toaster
“Delicious bagels, made the authentic way since day dot. Twenty years is a long time to obsess about getting one small thing 200% right. That’s how long we’ve spent making sure ABE’S are the best bagels you can get your mitts on.”
What began in 1996 as a passionate pursuit of the perfect bagel has evolved into Australasia's dominant player in an increasingly competitive category. ABE'S Bagels has transformed a niche food item into a mainstream breakfast staple across New Zealand and Australia, producing over 100,000 bagels daily from their Auckland bakery.
The company's unwavering commitment to authentic methods and quality ingredients has established ABE'S as the number one bagel brand in the region. This dedication is evident in their Auckland production facility, equipped with state-of-the-art technology to maintain quality while scaling to meet growing demand.
The versatility and convenience of bagels are driving their rising popularity, making them a trendy and desirable food choice. Despite ABE’S success in taking bagels to the mainstream, many Australian households are still discovering bagels, presenting a significant opportunity increase household penetration in a market many times larger than their home territory.
Innovation remains core to the ABE'S strategy. The introduction of "bagel thiiins" demonstrates their ability to evolve with consumer preferences while maintaining the brand's commitment to quality and taste, with early sales momentum exceeding expectations.
Partnership
Altered Capital recognised in ABE'S a company that had not only achieved market leadership but was positioned at the intersection of several compelling growth vectors. Our investment thesis rested on three key pillars:
The #1 market position of ABE’S in New Zealand and Australia, which is built on a great brand and long-term relationships with major supermarket customers.
The opportunity for both organic growth and strategic acquisitions to build on the strong existing position.
In Tony and Matt from Marmont Capital, we have partners with domain expertise, execution capability, and great enthusiasm for the next phase of ABE’S growth.
What made Altered Capital an ideal partner for the business?
“It was about someone that was going to be complementary to Marmont’s view of the world, and could demonstrate willingness to get behind a good idea and back the business. We were satisfied that they were the right partners to fuel our momentum” —ABE’S CEO Jesse Newson