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January 22, 2021

Australia’s Gourmet Food Holdings ‘attracts suitors’

The crackers-to-salmon supplier is reportedly up for sale and private-equity owner CPE Capital is said to want binding offers to come in next month.

By Dean Best

Gourmet Food Holdings, the Australian crackers-to-salmon supplier, is reportedly up for sale and private-equity owner CPE Capital is said to want binding offers to come in next month.

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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 Australian Financial Review, citing unnamed sources, said CPE Capital had drawn up a shortlist of suitors, which includes the private-equity firms KKR and Pacific Equity Partners, as well as Ritz crackers owner and US snacks giant Mondelez International.

The publication also said it had been told Associated British Foods, which owns Australian manufacturer George Weston Foods and Philippines-based food manufacturer Universal Robina Corp., were also preparing offers.

Approached by just-food, ABF declined to comment and Universal Robina Corp., which owns snacks businesses in Australia and New Zealand, brushed off the report.

“The report is not accurate,” Mike Liwanag, senior vice president at Universal Robina Corp., said. “We don’t have any involvement on this deal whatsoever.”

just-food asked KKR and Mondelez for comment but had not received a response at the time of writing. Pacific Equity Partners and CPE Capital could not be reached outside of normal office hours.

CPE Capital bought acquired Gourmet Food Holdings three years ago. The investor, then known as CHAMP Private Equity, set up Gourmet Food Holdings through the merger of two Australian companies, MaxFoods and Fine Food Holdings.

Gourmet Food Holdings' brands include OB Finest crackers and Ocean Blue salmon.

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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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