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October 25, 2018

Kerry Group buys Fleischmann’s Vinegar, AATCO Food Industries

Kerry Group, the Ireland-based consumer foods and ingredients supplier, today (25 October) announced acquisitions in the US and the Middle East.

Kerry Group, the Ireland-based consumer foods and ingredients supplier, today (25 October) announced acquisitions in the US and the Middle East.

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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.
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In a stock-exchange filing this morning, Kerry said it had struck deals to buy California-based ingredients business Fleischmann’s Vinegar Co. and Oman-headquartered foodservice supplier AATCO Food Industries.

Kerry is to pay a combined EUR365m (US$416.2m) for the two companies, which it said provide it “annualised revenues” of around EUR150m.

“These acquisitions further expand the group’s foundational technology portfolio, as well as strengthening its foodservice and developing markets positioning, in line with its strategic growth priorities,” Kerry said.

The company added Fleischmann’s Vinegar Co. would “further support Kerry’s taste and clean-label strategies across a number of end-use markets”. Headquartered in California, Fleischmann’s Vinegar Co. has manufacturing facilities in Washington, New York, Maryland, Illinois, Missouri, Alabama and California.

Kerry described AATCO Food Industries as “a leading provider of culinary sauces to the foodservice channel” and said the business would give it “a platform for business development in the Middle East and Africa”.

AATCO Food Industries has manufacturing facilities in Oman, Saudi Arabia and India.

Related Companies

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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