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April 29, 2019

Grupo Bimbo affiliate takes part in Clara Foods investment round

Mexican baking giant Grupo Bimbo has taken part in an investment round for a California-based protein business through an affiliate.

By Leonie Barrie

Mexican baking giant Grupo Bimbo has taken part in an investment round for US protein business Clara Foods through an affiliate.

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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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Bimbo, reputed to be the world’s largest bakery business, took part in the Series B funding round via its strategic investment partner B37.

Financial details of the investment round have not been disclosed.

San Francisco-based Clara Foods engineers, manufactures and formulates animal-free, animal proteins as ingredients for the global food and beverage industry, including chicken-less egg proteins.

Clara Foods’ main product is a foamy egg white alternative for baking use.       It said his round of financing will fast-track commercialisation of that product, more generally expand research and development capabilities and broaden its “product road-map” into other animal proteins.

Arturo Elizondo, founder and CEO of Clara Foods, said: “We see extraordinary value in partnering with Ingredion [which led the funding round] to distribute our products globally and look forward to jointly transforming the status quo.”

Clara Foods raised US$15m in a Series A funding round in 2016.

Other investors joining Grupo Bimbo/B37 and Ingredion in this round include Hemisphere Ventures and SOSV.

Clara has also announced a global partnership agreement with Ingredion. Under the agreement, the companies will work together to jointly develop, market and globally distribute functional protein ingredient products.

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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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