IRELAND: Total Produce takes control of whole foods firm

Ireland-based Total Produce has moved to tap into growing domestic demand for whole foods with the acquisition of distribution firm Wholefoods Wholesale.

Total Produce, spun off and formed earlier this year from the Fyffes fruit business, said today (30 July) that it had bought a controlling stake in Wholefoods.

Total Produce bought a 92% stake in Wholefoods, the leading distributor to independent health food stores in Ireland, for an undisclosed sum.

A spokesman for Total Produce said growing demand for healthier foods in Ireland had prompted the company to move for Wholefoods.

“Wholefoods is quite a sizeable business, with turnover of some EUR18m (US$24.6m). A lot of other companies have invested in the sector and bought independent distributors,” the spokesman told just-food.

The spokesman declined to reveal financial details. He said Total Produce could look to buy the remaining 8% of shares at a later date.

Total Produce is Europe’s largest fresh produce provider with annual sales of around EUR2bn and operations in 13 markets.

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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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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