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March 24, 2021

Australia’s Patties Foods buys healthy-meals firm Fitness Outcomes

Australia-based Patties Foods has acquired a local healthy ready-meals business for an undisclosed sum, it has announced.

By Leonie Barrie

Australia-based Patties Foods has acquired local ready-meals business Fitness Outcomes for an undisclosed sum.

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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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Patties, owner of brands including Four’N’Twenty pies, Herbert Adams and Nannas, will take on the sales, marketing, and innovation functions of the Fitness Outcomes brand, with manufacturing of 20 chilled and frozen SKUs transferring to its sites from this month.

In a statement, Patties Foods said: “Fitness Outcomes prides itself on delivering nutrient rich, high-protein meals to consumers with an emphasis on quality and convenience.

“Its addition to the Patties portfolio completes the company’s already expansive representation across key segments in the  ready-meals category, alongside Ruffie Rustic Foods and Weight Watchers.”

Patties added the acquisition follows a “significant investment” in its manufacturing sites in Australia and New Zealand, including the expansion and development of the Bairnsdale site and the 2019 purchase of the Packenham site.

Paul Hitchcock, the company’s CEO, said: “We are thrilled to be adding a new brand to our portfolio. Fitness Outcomes will play an important role in catering to a new demographic and growing our sales in both the frozen and chilled meals categories.” 

Fitness Outcomes’ chilled and frozen meals are sold in by major supermarket retailers in Australia, including Coles and Woolworths, as well as in independent stores and fitness centres. It also has an e-commerce operation selling direct to consumers.

Patties Foods was acquired by private-equity group Pacific Equity Partners in 2016.

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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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