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January 28, 2021

CapVest ‘may look to sell Valeo Foods’

An Ireland-based food business could be put up for sale by its private-equity owner CapVest, a report has suggested.

By Leonie Barrie

Ireland’s Valeo Foods could be put up for sale by its private-equity owner CapVest, a report has suggested.

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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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Sky News has reported London-based CapVest has appointed Goldman Sachs to oversee a sale of the company in the coming months. 

just-food understands Goldman Sachs has been hired to work with the company but neither CapVest nor Valeo would comment on the suggestion a sale could be on the cards.

Valeo was formed just over a decade ago when CapVest acquired two Irish food businesses: Batchelors and Origin Foods. Since then it has adopted a buy-and-build strategy with more than a dozen acquisitions including Kettle crisps and Rowse honey. Just two weeks ago it announced the acquisition of German confectionery business Schluckwerder Holding.

Sky News speculates a spike in sales during the Covid-19 pandemic may have encouraged CapVest to cash in and suggests a sale of Valeo could raise GBP1.5bn (US$2.04bn).

CapVest also owns UK meat and seafood manufacture, Eight Fifty Food Group, which houses assets including Young's Seafood. It, too, has adopted an aggressive acquisition strategy.

Earlier today (28 January), CapVest was linked with a bid for Ireland-based Kerry Group's consumer-facing food division. It refused to comment when approached by just-food.

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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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