Beloved local bagel brand Abe’s finds new owner across the Ditch
Thursday, 7 May 2026
Auckland-based bagel manufacturer Abe’s Bagels has been sold for an undisclosed amount to Australia’s George Weston Foods, the owner of some of New Zealand’s most well-known FMCG brands.
Abe’s Bagels has had a bumper few years, now pumping out 1.2 million bagels each week from its St Johns bakery and making annual revenue in excess of $50 million. Its sales grew 25% in its 2026 financial year to end of March 31.
George Weston Foods is one of Australia’s largest food manufacturers, owning an extensive portfolio of supermarket brands - including New Zealand-founded brands Dad’s Pies and Big Ben, along with Golden Crumpets and bread brand Tip Top, and is well established in both the New Zealand and Australian markets.
Abe’s Bagels chief executive Jesse Newson told The Post the change in ownership was finalised on April 30, after months of negotiations. Newson will stay in the role temporarily to oversee a smooth transition for the company’s 140 staff - now employed by George Weston Foods.
Read more:
My Food Bag sale on the cards? Meal kit provider begins strategic review
Too Good to Go ramps up efforts to ‘clean up’ NZ's food waste problem
Newson said a combination of the business performing incredibly well, interest from the market, coupled with personal circumstances of shareholders, meant it was a good time for the business to change hands.
“We connected with George Weston Foods being a family business, and there was an immediate natural fit. They understand the category and share our obsession with great quality products, so the partnership felt right,” Newson said.
Abe’s Bagels, which will mark 30 years in business in December, makes more than 7000 bagels an hour and has ramped up its production in recent years amid a steep rise in demand post Covid.
It operates out of a 3000m2 bakery in the East Auckland suburb of St Johns, running a 24/7 operation.
Newson said it would be business as usual going forward, with plans for Abe’s Bagels to remain manufactured in New Zealand.
He said George Weston Foods was backing the company’s plan for “more of the same” - to continue to expand and grow the market in Australia and New Zealand.
“We've got excellent momentum at the moment across both New Zealand and Australia. We know that there's a household penetration opportunity that exists in both markets, and so this is about adding capability and resources to compliment the Abe’s team and realising that vision,” said Newson.
“Right now for me, the focus is about making sure our business is aligned into the GWF organisation and integrated in a way that we maintain our magic, but harness the full potential of being supported by the wider GWF business, including pies for lunch, from Dad's Pies and Big Ben, which is part of the wider portfolio.”
Abe’s Bagels was founded in Auckland in 1996 by Megan Sargent and Brent Milburn who, up until the sale to George Weston Foods, retained a stake in the business, alongside Matt McKendry and Tony Kerridge of Marmont Capital and Altered Capital.
The company is in what Newson calls a significant growth phase.Australia now accounts for 70% of total sales, yet bagels are purchased by only around 15% of Australian households and 22% in New Zealand, compared to roughly 40% in the United Kingdom and even higher in the United States.
Newson says the gap represents a massive opportunity for Abe's.
“Getting people across the Ditch understanding what bagels are, and getting households purchasing them is our mission - we say our mission is to get a bagel in every toaster across Australasia, so that's what we've remained focused on,” Newson said.
“George Weston Foods are great custodians for the business and the brand moving forward, so coming on board to support our mission has been a crucial part of supporting the mission of Abe's more broadly; we've currently got 76% market share, and we are continuing to focus on growing that.”
George Weston Foods general manager of New Zealand baking Mark Bosomworth said the company looked forward to expanding its bakery portfolio into the bagel segment.
“Both GWF and ABE’S share a passion for baking exceptional quality products that our consumers love.”
Correction: The story has been corrected to reflect the fact Abe’s Bagels are only sold in Australia and New Zealand.