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October 20, 2021

Gourmet Italian Food buys ready-meals firm Cucina Nostrana

It is the second deal in three months for Gourmet Italian Food, which was formed by two private-equity firms in June.

Italy-based Gourmet Italian Food (GIF) has acquired local ready-meals business Cucina Nostrana, it has announced.

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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.
by GlobalData
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It is the second deal in three months for GIF, which was formed by two private-equity firms in June. In July, it acquired local snacks and bakery business Fabian.

By buying Cucina Nostrana, GIF also takes control of its bread- and sandwich-making subsidiary Deppieri.

Cucina Nostrana, established in the early 1980s, produces ready-meals, sauces, appetisers, meat and fish dishes and sandwiches under its own name and for third parties.

It has two factories of approximately 9,000 sq m and 4,000 sq m near Venice.

GIF has bought the business from the Casagrande family. Alberto and Alessandro Casagrande will maintain their roles within the company as co-managing directors and will become part of the strategic committee of the GIF group.

It said the addition of Cucina Nostrana will give it a consolidated turnover of EUR65m (US$75.7m).

GIF was formed through a venture between Italian private-equity firms Alcedo and FVS, bringing together Eurochef Italia and foodservice supplier La Gastronomica. Alcedo is the majority shareholder with 60%.

Speaking about its latest deal, Filippo Nalon, partner of Alcedo, said: “The acquisition of Cucina Nostrana follows those of La Gastronomica and Fabian just a few months ago and is part of the project led by Alcedo to create a leading group in quality fresh gastronomy, which now boasts a diversified ready-meal portfolio ranging from fresh to very fresh to snacks by turning to various distribution channels, from large-scale distribution, to horeca and vending.”

In a joint statement, Alberto and Alessandro Casagrande said: “We are proud of becoming part of this group, within which we have glimpsed the same values they have distinguished Cucina Nostrana in recent years, such as excellence in products, high standards of customer service and technological innovation.”

Financial details were not disclosed.

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Free Report
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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
Enter your details here to receive your free Report.

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