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July 22, 2020

Giraffe Foods snaps up table sauces maker Lounsbury Foods

Giraffe Foods, a Canada-based private-label manufacturer, has bought a table sauces business in Toronto.

By Dean Best

Giraffe Foods, a Canada-based private-label manufacturer, has acquired Lounsbury Foods, a producer of horseradish and other table sauces located in Ontario, Toronto.

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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.
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Family-owned Lounsbury also supplies the private-label sector, as well as the foodservice channels, with its portfolio consisting of sauces ranging from horseradish to tartar and seafood cocktail.

Giraffe Foods is also present in retail and the out-of-home segment for its own range of sauces, dips, marinades and dressings. Financial terms of the transaction were not disclosed in a statement from the Toronto-based company.

Ari Powell, the chief executive of Giraffe Foods, said: “The acquisition is consistent with our commitment to grow our capabilities and portfolio of product solutions by investing internally and by partnering with great companies like Lounsbury. This marks an important step for Giraffe as we continue on our journey from great to elite, with our outstanding team, our core mission, and our values leading the way.” 

Last year, Giraffe Foods received an undisclosed capital injection from Philadelphia-based private-equity firm Graham Partners, described as a “significant investment”

Tim Higgins, the president of Lounsbury, added his company will benefit from Giraffe Food’s “focus on innovation and quality”.

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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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