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September 17, 2018

Albie’s Foods sold to US private-equity firm Union Capital

US-based private-equity firm Kratos Capital has sold Albie's Foods, a supplier to foodservice outlets and retailers, to fellow investment house Union Capital. 

US-based private-equity firm Kratos Capital has sold Albie’s Foods, a supplier to foodservice outlets and retailers, to fellow investment house Union Capital. 

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What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

Founded in 1987 as a pasty manufacturer, Albie’s Foods now also produces pies, filled bread sticks, calzones and its EZ Jammer sandwiches under its namesake brand and also for private-label clients. It also supplies school lunch programmes. 

The company operates out of a 25,000 square-foot plant in Gaylord, Michigan, which has undergone a number of expansions as business increased.

In a statement announcing the deal, Kratos Capital’s principal Josh Bammel said: “Our clients were looking for a partner to provide a liquidity event, while also building future value for this growing business. Union Capital, given their reputation in the food sector, proved to be the best partner.”

No financial terms for the deal were disclosed.

Neither Albie’s nor Union Capital responded to requests from just-food for comments on how the new private-equity owner plans to take the business forward.

Kratos’ statement described Union capital as a “lower middle-market” private-equity firm operating in North America and targeting companies with annual revenues of US$20m to $200m. 

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Free Report
img

What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

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