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Hong Kong-based PAG buys Aussie food brands Patties and Vesco

Acquisitions by Blackstone-backed investment manager total nearly $472m

Hong Kong-based PAG has acquired Australia's Patties Foods, which makes snacks such as meat rolls and pies. (Screenshot from Patties' website)

BANGKOK -- Hong Kong-based investment manager PAG has acquired Australia's Patties Foods and Vesco Foods for a total of nearly 700 million Australian dollars ($472 million), according to a source familiar with the matter.

The acquisitions are expected to be completed in the first half of 2023, the source said.

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