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December 10, 2018

German meat giant Toennies buys UK firm Riverway Foods

Tönnies, the Germany-based meat giant, has added to its business in the UK through the acquisition of a local sausage maker.

Tönnies, the Germany-based meat giant, has added to its business in the UK through the acquisition of local, family-owned sausage maker Riverway Foods.

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“Together with the Crosby family, we want to expand our market share in the UK,” Carsten Jacobsen, the managing director for Tönnies’ business in the UK market. “Riverway Foods quality products are a great fit with our other Becketts and Direct Table products.”

Riverway Foods, founded in 1971 in Essex, markets pork sausages to retailers including Tesco and Sainsbury’s.

The most recent set of accounts on Companies House is for the 52 weeks ended 2 April 2017. During that year, Riverway Foods generated turnover of GBP21.7m (US$27.3m), down from GBP26.2m 12 months earlier.

Gross profit was GBP3.4m, compared to GBP6.2m a year earlier.

Profit stood at GBP161,696, down from GBP1.3m the previous year. The accounts stated the company’s directors were “satisfied with the performance during the year in terms of turnover”.

The statement added: “However, the gross profit has suffered due to tough market conditions, mainly due to high raw-material costs”.

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Free Whitepaper
img

What is the impact of historically high inflation on the UK consumer landscape?

The average UK consumer is experiencing a severe cost-of living crisis as inflation surges to a forty-year high and the price of goods continues to rise. This shock is the result of the sharply increasing costs of commodities, energy, and the ongoing conflict in Ukraine, and is threatening FMCG manufacturers, retailers, and foodservice operators’ ability to survive and grow. Inflation will have a profound effect on many consumer-facing industries in 2022 and beyond. Consult GlobalData’s new whitepaper, Inflation in the UK: The Impact of Historically High Inflation on the UK Consumer Landscape, to better understand shifts in consumer behavior and their impact on spending patterns, as well as the implications for UK businesses. This whitepaper covers:  
  • Why has global inflation returned with a vengeance?
  • What is the current inflation situation in the UK?
  • What impact is inflation having on UK retail sales?
  • What tactics are businesses relying on to tackle the effects of high inflation?
  • How are consumers changing their behaviors to cope with the higher cost of living?
  • Which industry sectors are most vulnerable to reduced consumer demand?
  • How is the government responding to high inflation?
  • How long will high inflation last in the UK?
  • How can your company survive and thrive in a high inflation environment?
Enter your details here to receive your free whitepaper and ready your business for these increasingly uncertain times.
by GD50 Custom
Enter your details here to receive your free Whitepaper.

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