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September 21, 2020

French baby-food firm Yooji raises more cash, names new CEO

Yooji, the French baby-food start-up, has attracted more funding, including, again, from one of the major names in the sector.

By Dean Best

Yooji, the French baby-food start-up, has attracted more funding, including, again, from Danone, home to brands Cow & Gate and Aptamil.

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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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The firm, a supplier of organic meat, fish and vegetable-based products, has raised EUR7.5m (US$8.9m) from existing shareholders CapAgro, the Paris-based VC fund, French family fund Caravelle and Danone Manifesto Ventures, the French food giant’s in-house venture-capital arm. New investors, the Dutch impact fund Pymwymic and DS Participation, also joined the round.

Alongside the new backing, Yooji has also appointed former Danone and Heineken executive Jérémy Strohner as its new CEO.

Danone first invested in Bordeaux-based Yooji, which was set up in 2012, three years ago.

Yooji is aiming to become “a key player in infant nutrition” in France, a statement from advisors Oaklins, announcing the new financing, read. By 2025, Yooji is targeting EUR20m in turnover and a 12% market share in value terms.

Strohner said: “The reaffirmed confidence of historical shareholders as well as the entry of Pymwymic into the capital will allow us to conquer new markets and create more societal and ecological impact.”

Paul Chifflet, European director of Danone Manifesto Ventures, said: “At Danone Manifesto Ventures, we are very proud of the progress made by the Yooji team for three years, and are still more convinced that the Yooji product offer meets the expectations of the younger generations of parents.”

just-food’s guide to investments by Big Food’s in-house VC arms can be found here [free-to-read]

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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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