CVC Capital 'buys Malaysia's Munchy Food Industries'

Private-equity firm CVC Capital Partners has reportedly acquired Malaysia-based snacks business Munchy Food Industries.

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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.

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Bloomberg, citing an unnamed source, said today (12 June) CVC has paid around US$250m to buy Munchy, which the private-equity firm this spring had been reported to be interested in acquiring.

just-food approached CVC and Munchy for a reaction to the report but had the companies had not commented at the time of writing.

The Munchy portfolio includes Munchy’s Choc-o biscuits, Lexus sandwich biscuits and Nom Nom crackers. It also has ventures with companies including Greece’s Chiptita, with which it markets the 7 Days croissant brand in Malaysia.

The same Bloomberg report also said CVC has invested in Indonesia-based snacks business GarudaFood.

Citing unnamed sources Bloomberg said CVC had made the move ahead of a planned IPO by GarudaFood, which is a major manufacturer of snacks in Indonesia. It also markets beverage products.

The GarudaFood portfolio includes Gery biscuits, Leo savoury snacks and Chocolatos wafers.

Free Report

What’s the forecast for the food and grocery industry?

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

Free Report

What’s the forecast for the food and grocery industry?

Free Report

What’s the forecast for the food and grocery industry?

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