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September 6, 2017

Ardo buys majority stakes in VLM Foods, Compania Frutera La Paz

European frozen produce company Ardo Group has bought a majority stake in processed food supplier VLM Foods, giving it access to the North American market.

By Simon Harvey

European frozen produce company Ardo Group has bought a majority stake in Canada-based supplier VLM Foods, giving it access to the North American market.

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  • 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
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Belgium-based Ardo also said today (6 August) it has acquired a controlling stake in Costa Rica’s biggest frozen pineapple producer Compañia Frutera La Paz, which will help expand the firm’s fruit range.

The company did not reveal the financial details of either of the purchases and a spokesperson at Ardo declined to comment when contacted by just-food today. VLM Foods also declined to comment.  

Ardo supplies frozen vegetables, herbs, fruit and pasta, and has 20 production and packaging sites in eight European countries. The company’s turnover was US$961m as of June. VLM Foods, based in Montreal, Canada, specialises in similar products and is a North American leader in “import trade compliance”, with earnings of US$143m. Compañia Frutera La Paz last realised a turnover of US$28m. 

The statement said Jeff Preston will remain president of VLM Foods but will become regional director of Ardo’s North America business. VLM founder Marcel Lessard, who sold his controlling share, will remain a board member and help foster the development of Compañia Frutera La Paz, which will continue to be led by general manager and founder Luisa Chacon. 

Speaking about the VLM Foods transaction, Jan Haspeslagh, managing director of Ardo, said: “This combination sets the scenery for building the ideal platform to supply high quality, sustainable and value added products into the North American market.” 

VLM’s Preston added: “Existing sustainable agriculture programs at Ardo can be leveraged into increased opportunities with the right marketing approach in the North American market.” 

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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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