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November 5, 2021

Fontaine Santé Foods sells majority stake to Arbor Investments

The Canada-based salsa-to-tofu business expanded into the US two years ago by buying Campbell’s Garden Fresh Gourmet assets.

Canada-based salsa-to-tofu business Fontaine Santé Foods has sold a majority stake to private-equity firm Arbor Investments.

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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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Financial terms were not disclosed. Fontaine Santé Foods joins an Arbor roster that includes US-based Crown Bakeries, US pet-food firm Red Collar Pet Foods [https://www.just-food.com/news/us-pet-food-firm-red-collar-reveals-expansion-plans/] and US ingredients business Rubix Foods.

Set up in Montreal in 1990, Fontaine Santé Foods expanded into the US two years ago with the acquisition of Campbell Soup Co.’s Garden Fresh Gourmet business.

Founder and chairman Max Latifi said: “As we looked to accelerate our growth, especially in the United States, we had multiple options and interest and we selected Arbor as the best partner for us. Their extensive experience in the food industry, combined with their in-house resources can help Fontaine Santé unlock new channels and opportunities.”

Fontaine Santé Foods’ product range includes fresh houmous, refrigerated salsa, tofu and vegetable pates. The company’s brands include Fontaine Santé, Garden Fresh Gourmet and Lantana.

Arbor partner Alan Weed said the private-equity firm “looks forward to supplementing the Company’s existing foundation with our collective resources to accelerate growth – both organically in the US and Canada, as well as through further partnerships and acquisitions”.

Crown Bakeries has been active in 2021, buying local peer Bagel Boy and US sweet baked-goods firm Michel’s Bakery.

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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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