View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
April 6, 2021updated 11 May 2021 5:43pm

Germany’s Frostkrone Food Group adds Abergavenny Fine Foods to stable

By Simon Harvey

Germany’s Frostkrone Food Group has taken on another UK business with the purchase of Abergavenny Fine Foods, a predominately private-label manufacturer of dairy and snack products.

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.

Acquisition-hungry Frostkrone did not reveal the deal price for Abergavenny Fine Foods, a business based in south Wales producing chilled and frozen finger foods such as cheese-filled Jalapeno poppers and vegan mozzarella sticks, as well as cheese made from goat’s milk. It also offers branded products to the retail and foodservice channels.

Jason Rees recently became managing director of Abergavenny Fine Foods, which exports to the US, Australia and Japan, and plans to expand its international network with the investment in hand.

Rees said: “We are very excited to be joining the Frostkrone Food Group and continuing on our growth journey in frozen and chilled finger food together, bringing more value and job security to Wales and the local area in the process.”

Abergavenny Fine Foods joins Scotland's Innovate Foods in the Frostkrone stable after it bought the family-owned finger-food peer in 2020. Other recent deals include Piz'wich and Varenne Gastronomie in France, and Rite Stuff Foods in the US.

Frostkrone has been owned by the Munich-based private-equity firm Emeram Capital Partners since 2017, when it acquired the business from another private investor, Ardian. It supplies markets in Europe, including Switzerland, the Netherlands, Scandinavia, France, Spain, and Portugal, along with eastern European countries, the US and Asia.

"The finger food and snack market is continuing to grow and we, as an innovation driver, want to definitively grow with it," Frédéric Dervieux, the CEO of Frostkrone, said. "We believe it is especially the free-from market that holds great potential all around the world.

"Now with Abergavenny Fine Foods, we have a strong partner in our team, a partner who has a tremendous amount of know-how at their fingertips and fantastic business connections to Australia and Japan. We now want to leverage this opportunity and continue expanding our exports."

In February, Abergavenny Fine Foods announced plans to double its production capacity, with a focus on plant-based products.

A month earlier, the company sold its blended cheese business to UK cheese maker Somerdale International. Abergavenny Fine Foods  said in February its annual revenue is on track to grow 30% despite the disposal.

Figures posted with Companies House show Abergavenny Fine Foods generated a turnover of GBP30.9m (US$42.8m) in the year to 31 March 2020, up 16.2% on a year earlier. Turnover from the company's export business more than doubled during the period to GBP6.5m. Abergavenny Fine Foods has set a target for its export business to grow by at least 20% over the next two years.

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