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October 13, 2021

Farma & Co acquired by investor-backed Italian Frozen Food Holding

Farma & Co. was set up by the Betti family and is present in free-from baked goods and pasta.

Farma & Co., a branded baked-goods business in Italy, has been acquired by a portfolio company of private-equity firm Mandarin Capital Partners.

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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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The deal is being conducted through Italian Frozen Food Holding (IFFH), a business set up in 2018 by Luxembourg-headquartered Mandarin Capital.

Alcass, a supplier of branded and private label gluten- and meat-free products in the Italian province of Brescia, was acquired by IFFH in 2019.

Also based in Brescia, in the commune of Castenedolo, family-owned Farma & Co. manufactures own brand bread, pizza, pasta and muffins for retail customers and also supplies the foodservice channel.

The gluten-free business, owned by the Betti family, was set up in 2008 and went completely free-from in 2016 with lactose-free products.

Silvio Betti will become a shareholder in IFFH, according to a statement provided to Just Food by Mandarin Capital, which added the acquired company is expected to generate a EUR3m (US$3.4m) turnover this year and an EBITDA margin of 20%.

Mandarin Capital, established in 2007, also has offices in Milan and Shanghai, China.

With a turnover of EUR57.1m, IFFH aims “to become a leading global player with a strong emphasis on the ‘Made in Italy’ and healthy features, able to grow internationally and to consolidate the presence in the Italian market”, according to information on Mandarin Capital’s website.

IFFH also houses Italy-based frozen seafood and ready-meals manufacturer Appetais, along with free-from producer AR Srl.

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Free Report
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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
Enter your details here to receive your free Report.

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