Staffing and recruitment company PeopleIN (ASX: PPE) - formerly known as People Infrastructure - has announced yet another acquisition, buying food sector staffing business Food Industry People (FIP) for $45 million.
The deal, which may see PPE pay a further $25 million if FIP meets certain EBITDA growth targets in FY23 and FY24, gives PeopleIN a major handhold in the staffing solutions space for the food and agriculture sector.
Established in 2006, Brisbane-based FIP is a national workforce solutions business with around 4,500 people in work, and specifically addresses labour shortages in Australia through the attraction, onshoring and employment of workers from the Pacific Islands under the Pacific Australia Labour Mobility (PALM) Scheme.
