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May 29, 2020

Meat giant Thomas Foods International invests in Australian peer Frew

Thomas Foods International, the Australia-based meat group, has snapped up a stake in a lamb- and goat-processing peer in its domestic market.

By Dean Best

Thomas Foods International, the Australia-based meat group, has snapped up a stake in Frew, a lamb- and goat-processing peer in its domestic market.

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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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TFI has acquired a 50% shareholding in Frew, a business based in Victoria that has a plant with a daily capacity to process more than 6,000 lambs, sheep and goats.

Financial terms were not disclosed. In a statement, TFI said both companies would “continue to operate independently”. Robert Frew, the son of the company’s founder, will stay on as managing director of the renamed Frew International. Darren Thomas’, TFI’s chief executive, is to join the Frew International board as executive chairman “to help guide global growth and future strategy”.

“Both companies have had a mutual respect for each other over many years. We are both family owned and family grown which means a lot in our industry, particularly to our customers and livestock suppliers,” Mr Thomas said. “For us, it was important to partner with a company that has a similar focus on quality and running a business based on strong family values. This investment is not only aimed at helping facilitate Frew’s exciting growth prospects but also enhancing TFI’s offering across the meat industry including some of Frew’s existing key markets that TFI has not served in recent years.”

TFI says it “exports across the globe” and has subsidiary companies located in Asia, Europe and the United States.

Mr Frew said Frew International products had been exported through TFI’s export unit Holco.

“Our well-established and focused national retail domestic customer relationships and export markets, in particular the Middle East, will benefit substantially through combining our increased procurement, supply chain, access to markets and processing volumes. Our two companies had already established a great working partnership, with Holco purchasing products from our company over many years. Today’s announcement strengthens our companies’ high quality ‘farmgate to plate’ offering for consumers right across the globe,” he explained.

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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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