Deoleo sells last rice plant to Ebro Foods

Deoleo, the Spain-based olive oil supplier, has sold its last remaining rice business asset in the country to Ebro Foods for EUR1.9m (US$2m).

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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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A Deoleo spokesperson told just-food today (21 April) the sale of the company’s 75% stake in the Sevilla Rice Company-operated mill business at Los Palicios, Seville, was completed in December. The deal was formally announced in a notification to Spain’s stock market regulator, the CNMV, a few days’ ago.

The sale means Deoleo has finally divested all of its rice assets, after leaving the sector in 2011 when, as the SOS food group, it sold its rice division to Ebro.

Earlier this month, Deoleo set out a plan to reduce its share capital by at least EUR300m (US$320m) as it looks to improve its balance sheet after another year of losses.

Separately, Deoleo said it had decided to rent out a plant in Italy it had planned to shut. Italy-based business-to-business supplier The Organic Factory is to lease the plant, located in Inveruno in the suburbs of Milan, for four years.

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