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January 27, 2021

Cargill acquires US cooked-meats firm ProPortion Foods

US-based agri-food group Cargill has completed an acquisition in the cooked meats area as it expands in the value-added segment.

By Dean Best

US-based agri-food group Cargill has acquired ProPortion Foods, a manufacturer of cooked meat products sold into the retail and out-of-home channels across North America.

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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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Cargill said in a statement issued yesterday (26 January) that the transaction for ProPortion Foods, founded in 2009 and based in Los Angeles, California, was completed in December, although it did not reveal the financial terms.

With the deal, Cargill inherits two manufacturing plants in Round Rock, Texas, and Vernon, California, which will supply the company’s own retail and foodservice customers.

Rob Stewart, the managing director for growth ventures at Cargill's North American protein business, said: "Our agreement with ProPortion Foods is an exciting next step as we continue to execute our growth strategy and build our value-added cooked business. We are investing in our future and look forward to growing the Cargill team and our presence in the southern and western US, while continuing to build our customer portfolio."

ProPortion Foods line-up includes cooked beef, pork, chicken and turkey products such as steaks and burgers and marinated meats, along with ready-to-eat meals.

"My partners and I worked really hard to create a great company in ProPortion Foods," said Brian Levy, a partner with the Los Angeles firm. "We're delighted that the business and our employees will have the opportunity to grow with Cargill."

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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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