IRELAND: Aryzta arm Origin Enterprises shakes up food business

Irish food and agricultural group Origin Enterprises has decided to spin off its consumer food business in the country to focus on farming.

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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

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Origin, in which Switzerland-based bakery group ARYZTA owns a 71% stake, has teamed up with private-equity firm CapVest to create Valeo Foods Group, a business that will own brands like Odlums and Shamrock baking ingredients.

Origin will take a 45% stake in Valeo, while private-equity firm CapVest will control the rest of the business.

Valeo, meanwhile, has agreed to buy Irish food business Batchelors, a maker of brands including Batchelors baked beans, Erin cooking sauces and Sqeez juice drinks.

The deals remain subject to conditions including competition clearance but Origin CEO Tom O’Mahony said the moves would allow the company to concentrate on agriculture.

“The creation of Valeo marks a significant repositioning of the Origin Group and facilitates a sharpening of our strategic focus as we prioritise the development of the group’s agri-services platform,” O’Mahony said.

Origin will receive EUR26m (US$33.1m) in cash and a deferred consideration of EUR35m from the creation of Valeo, which has a pro-forma turnover of EUR200m.

Free Report

What’s the forecast for the food and grocery industry?

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

Free Report

What’s the forecast for the food and grocery industry?

Free Report

What’s the forecast for the food and grocery industry?

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