In this episode, Food & Drink Business editor Kim Berry is joined by Dominic Westendorf, the Regional and Agribusiness Banking Victoria GM for CommBank, and the CEO of Ferndale Foods Australia, Leigh Edward, to discuss the valuable role and benefits of regional food and beverage manufacturing.
Leigh tells us about Ferndale Foods, and how its foundations are as much in Ballarat as in his family (Ferndale was founded by his father). He shares insights on the benefits of being regionally based, from cheaper industrial land enabling more capital for equipment and operations, to a local workforce and the added benefits that flow into a community from having larger companies in town.
Dominic talks about his passion for regional business and shares some of the findings of the latest CommBank Regional Manufacturing Report. While higher interest rates and energy costs persist, the report found 89 per cent of regional manufacturers and distributors were confident about future conditions and were more bullish than their city counterparts on expecting revenue and profit uplifts in the year ahead.
Leigh and Dominic talk about the value in having a working relationship where both parties have a thorough knowledge of the local, regional, and macro-economic factors as well as the business.
Leigh provides some insights into the process of growing Ferndale twice – an $11m investment to install marshmallow production and $23m for a snack bar line.
LINKS:
Sponsored by CommBank
commbank.com.au/manufacturing
Ferndale Foods:
ferndaleconfectionery.com.au
------------------------------
The Food & Drink Business Podcast is produced by Southern Skies Media on behalf of Food & Drink Business, owned and published by Yaffa Media (www.foodanddrinkbusiness.com.au).
The views of the people featured on this podcast do not necessarily represent the views of Food & Drink Business, Yaffa Media, or the guest’s employer.
The contents are copyright by Yaffa Media.
If you wish to use any of this podcast’s audio, please contact Food & Drink Business via their website www.foodanddrinkbusiness.com.au or send an email to editor@foodanddrinkbusiness.com.au
Host: Kim Berry
MC: Grant McHerron
Producer: Steve Visscher
------------------------------
Things you should know:
Guests featured in the podcast are speaking from their personal experiences only. As this podcast has been prepared without considering your objectives, financial situation or needs, you should, before acting on the content, consider its appropriateness to your circumstances. CommBank does not necessarily endorse the views of a particular individual or guarantee the accuracy of the information provided.
Any opinions, conclusions or recommendations made are subject to change without notice. Projects and forecasts are based on a number of assumptions and estimates and are subject to contingencies. Commonwealth Bank does not accept any liability for loss or damage arising out of the use of all or any part of the research.
The CommBank Manufacturing insights report can be found by searching CommBank Manufacturing Insights on the CommBank website.
©2024 Commonwealth Bank of Australia ABN 48 123 123 124 AFSL and Australian credit licence 234945.
