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May 20, 2022updated 23 May 2022 7:05am

Canada’s Above Food acquires quinoa products supplier NorQuin

Northern Quinoa Production is a grower and a supplier to retail and B2B.

By Simon Harvey

Above Food Corp., a plant-based food and ingredients supplier in Canada, has acquired local peer Northern Quinoa Production.

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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.
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NorQuin as it is known, fits into Above Food’s ingredients portfolio and its consumer-facing subsidiary Above Food Brands, offering plant alternatives to meat, dairy, bakery and baby food.

Backed by plant-based investor Eat & Beyond, previously Eat Beyond Global Holdings, Above Food said NorQuin “will add a scaled portfolio of speciality ingredients capabilities and customers, alongside a growing CPG business to the Above Food platform”. Financial terms were not disclosed.

Above Food Corp.’s existing brands include Eat Up, featuring whole grains, plant-based meatballs and mince, pizza dough balls, oat cheeses and baby food. It also acquired Culcherd in 2021, supplying dairy-free cheeses and butter, and drinks maker Only Oats.

Lionel Kambeitz, the CEO of Above Food Corp., said in a statement: “The team at NorQuin has built a truly remarkable platform. Adding them to our scaled, vertically-integrated platform will enable significant opportunities for growth and margin expansion across each of our core competencies.”

Set up in 1992, Saskatchewan-based NorQuin supplies the retail channel with products including packaged quinoa and flours. It also sells B2B customers ingredients such as quinoa seeds and flours, flakes and bran.

Above Food added it “plans to integrate NorQuin’s class-leading genetic capabilities and grower programmes … providing significant scale to NorQuin’s existing grower infrastructure, while applying the team’s expertise in genetics and plant-breeding to a broader base of proteins”.

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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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