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October 4, 2021

Canadian food firm Stephano Group backed by local fund CBGF

The family-owned business said the investment money will aid its “ambitious plans for growth”.

Toronto-based food business Stephano Group has sold a minority stake to the Canadian Business Growth Fund (CBGF).

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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
Enter your details here to receive your free Report.

The family-owned business, which has been operating for more than 40 years, said the money will aid its “ambitious plans for growth” by increasing its sales and marketing efforts, expanding its “corporate infrastructure” and growing its manufacturing capacity.

Neither the amount invested nor the size of the stake acquired has been disclosed.

Stephano Group produces branded and private-label breakfast and snack foods – including cereals and nutrition bars – for the retail and foodservice channels from two manufacturing sites. Its products include organic, non-GMO, gluten-free, allergen-controlled and kosher-certified options.

Company president Noah Frank said: “This investment will allow the company to have more fluid growth and enable us to meet our growth targets over the next few years

“We believe that along with their financial backing, the CBGF team provides a measure of support and guidance which will serve the company well over the coming years.”

The CBGF is a private fund, set up by a group of Canadian financial institutions. It provides long-term, minority capital in a bid to fund the expansion of mid-market businesses in Canada. The fund makes investments of between CAD3m (US$2.4m) and CAD20m.

George Rossolatos, CEO of CBGF, said: “As our first family-owned and operated investment, we are extremely proud to partner with the Frank family as they continue on their mission of growing Stephano Group into a leading private-label manufacturer of high-quality breakfast and snack products in North America.”

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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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