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September 4, 2017

Mexico’s Sigma Alimentos takes full control of Romania’s Caroli Foods Group

Mexican food group Sigma Alimentos has furthered its European expansion plans by taking full control of Romanian meat processing company Caroli Foods Group.

By Andy Coyne

Mexican food group Sigma Alimentos has furthered its European expansion plans by taking full control of Romanian meat processing company Caroli Foods Group.

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  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
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Having already owned 49% of the shares of the Romanian group, Sigma has now bought the remaining 51%, giving it full ownership.

No financial details relating to the transaction have been disclosed. 

Sigma Alimentos CEO Mario Páez said: “This acquisition allows us to continue with our growth strategy in the highly attractive region of Eastern Europe.”

Following the deal, Khaled El Solh will stay on as Caroli Foods Group CEO, along with his management team.

He said: “It is a major step on the Caroli Foods Group journey – Sigma’s knowledge and experience with global operations and expansive product range will help us further develop our brands and categories in new and exciting ways, while maintaining the core values of what makes Caroli Foods Group great.”

Caroli Foods Group was founded in 1994 by the Lebanese family El Solh. In 2010, it merged with Spain’s Tabco Campofrio. Sigma became a minority shareholder in Caroli in 2014, when it acquired Tabco Campofrio.

Caroli Foods operates a plant in the southern city of Pitesti, where it employs more than 1,200 people. In 2016, Caroli generated sales of EUR88m (US$105m).

Sigma Alimentos was founded in 1980 and is headquartered in San Pedro, Mexico. The company operates 69 plants in 18 countries across its four key regions: Mexico, Europe, the United States and Latin America, where it produces and distributes refrigerated foods, mainly lunch meats, cheeses and yogurts.

It has 44,000 employees and revenues of US$5.7bn.

In June Sigma Alimentos bought Peruvian packaged meat and dairy company Supemsa.

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Free Report
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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
Enter your details here to receive your free Report.

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