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February 22, 2019

Europastry takes full control of foodservice supplier Ingapan

Spain-based bakery-products supplier Europastry has become the sole shareholder in a local supplier to the foodservice sector.

By Dean Best

Spain-based bakery-products supplier Europastry has become the sole shareholder in Ingapan, a local supplier to the foodservice sector.

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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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Europastry has acquired the 40% it did not own in Ingapan from the Chousa family, which set up the company in 1959.

The deal, struck for an undisclosed sum, gives Europastry 100% ownership of a business selling baked goods, patisserie products and ready meals to foodservice operators in Spain. Ingapan operates from five plants.

Europastry first invested in Ingapan in 2017, buying a 60% stake in the company, which is based in Lugo, a city in the north-west of the country.

In December, Europastry snapped up Portuguese “craft baker” Confeitaria Torres, which specialises in products such as the Portuguese cake Bolo Rei.

A month earlier, Europastry became the sole shareholder in Wenner Bakery, a US business in which it first invested in 2013.

Further south, in September 2017, Europastry gained entry to the South American market after buying Chilean food group Crandon for an undisclosed sum.

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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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