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January 4, 2018

Japan’s Itoham takes full control of NZ’s Anzco Foods

Japan-based meat products supplier Itoham Yonekyu Holdings has acquired more shares in Anzco Foods and taken its stake in the New Zealand beef and lamb exporter to 100%.

By Dean Best

Japan-based meat products supplier Itoham Yonekyu Holdings has acquired more shares in Anzco Foods and taken its stake in the New Zealand beef and lamb exporter to 100%.

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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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Itoham Yonekyu, which had owned 65% of Anzco, has bought out the company’s management – including founder and current chairman Sir Graeme Harrison – and Japanese seafood group Nippon Suisan Kaisha, which were minority investors in the business. The deal has been approved by the New Zealand government. Financial details were not disclosed.

In a statement, Anzco said it would be able to “capitalise on synergy benefits and efficiencies from the considerable experience and networks of Itoham Yonekyu and Mitsubishi Corporation”. Japanese conglomerate Mitsubishi is the largest shareholder in the listed Itoham Yonekyu with a 39% stake.

Anzco said the change in ownership will see Harrison, who had signalled his impending retirement in 2015, step down at the company’s next annual general meeting in March.

The then Itoham Foods first teamed up with Anzco in 1989 when the two companies formed a 50/50 partnership that resulted in the establishment of local business Five Star Beef.

In 1995, Itoham Foods joined a management-led buyout of the then New Zealand Meat Producers’ Board shareholding in Anzco and held a minority 48% until 2015 when it increased its position to 65%.

In 2016, Itoham Foods became a wholly-owned subsidiary of Itoham Yonekyu, which was was created as a vehicle for the merger of the business with fellow Japanese meat processor Yonekyu Corp.

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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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