View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
November 25, 2020

Fortune International buys US meat and seafood peer Neesvig’s

US-based Fortune International, an importer, processor and distributor of seafood and meat products, has acquired a local peer.

By Leonie Barrie

US-based Fortune International, an importer, processor and distributor of seafood and meat products, has acquired local peer Neesvig’s for an undisclosed sum.

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.

Illinois-headquartered Fortune said the deal strengthens its presence in Wisconsin, Minnesota and Iowa and provides it with a USDA meat processing facility.

Neesvig’s, based in Windsor, Wisconsin, also operates Empire Fish, a retail store and a “state-of-the-art” fulfilment operation in its home state.

Fortune said the deal will allow it to better service the upper Midwest region with expanded distribution capabilities, and the rest of the nation through the fulfilment operation, which specialises in direct-to-consumer, e-commerce business.

Sean O’Scannlain, Fortune’s president and CEO, said: “We are excited to strengthen our meat programme with our own processing facility and continue to grow the fulfilment operation with additional locations.” 

Founded in 1913 and owned by Jim and Margaret Meyer since 1988, Neesvig’s is a distributor of Certified Angus beef and has partnerships with producers including Niman Ranch and Bell & Evans. 

Commenting on the sale of the business, James Meyer, CEO of Neesvig’s, said: “Margaret and I could not have selected a better partner than Fortune Fish to carry on the proud history of Neesvig’s.

“We know that we are leaving the company in great hands with Sean and his team and we look forward to watching the companies prosper in the years to come.”

Neesvig’s represents Fortune International’s ninth – and largest – transaction since launching its acquisition strategy in 2012. The strategy has been further accelerated since Fortune entered into a partnership in 2020 with asset manager Investcorp.

Fortune’s previous acquisitions include Classic Provisions in 2019 and Seattle Fish this year.

Related Companies

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.

Topics in this article:
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every other month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Food