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May 28, 2019

Atlantic Natural Foods seeks investment partner

US plant-based food business Atlantic Natural Foods (ANF) has hired a financial advisory firm to help it plan for future expansion.

By Leonie Barrie

US plant-based food business Atlantic Natural Foods (ANF) has hired financial advisory firm Deloitte to help it find an investment partner to aid its expansion.

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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
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The Nashville-based company produces shelf-stable seafood alternative products under the Loma Linda brand, including the plant-based tuna-type product Tuno.

Its founder, James Hines, said: “Our Loma Linda meal solutions launch in 2018 saw unprecedented growth as our products have rolled out in supermarkets and small grocery chains across the US. the United Kingdom, and Australia.

“We’re committed to creating, manufacturing, and distributing high-quality, sustainable plant-protein foods that are good for you and good for the planet. We’re seeking an investment partner who shares our vision and mission.”

In the past year ANF has secured more than 18,000 stores worldwide and suggests it is on track towards an annual revenue figure of US$50m within two years.

But Hines said, there is a need to “drastically enhance” ANF’s supply chain, factories, finance, marketing, execution, and human and financial capital. 

ANF has manufacturing locations in Nashville and Bangkok, Thailand. 

Rory Dineen, managing director of Deloitte Corporate Finance, said: “We are pleased to work with ANF on this investment opportunity. The food industry is evolving and ANF’s plant-based food alternative products offer consumers affordable and sustainable protein options.”

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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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