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November 3, 2021

Mitsui sells US food arm to The Atalanta Corporation

Atalanta Corporation is one of the largest food importers in the US, serving foodservice and retail.

Japanese conglomerate Mitsui & Co. has sold off its US-based division, Mitsui Foods Inc. (MFI) to food import peer the Atalanta Corporation for an undisclosed sum.

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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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MFI, which dates back to 1953, is an importer and distributor of canned and frozen seafood, as well as canned fruit and vegetables. Post-deal, its brands, including Empress, will be integrated across Atalanta Corporation and Camerican International. Both businesses are owned by the Gellert Global Group.

Atalanta, like MFI based in New Jersey, is one of the largest food importers in the country, primarily serving foodservice and retail markets with brands including Del Destino and Celebrity.

Shuichi Matsuzawa, SVP of Mitsui’s foods & retail division, said: “After extensive evaluation and review, Mitsui felt Atalanta Corporation and Camerican International were best suited to continue Mitsui Foods’ mission to be a leader in the food import and distribution industry. Antarctica Advisors’ expertise was instrumental in aiding us in this review and facilitating the successful transaction for Mitsui.”

Tom Gellert, president of Atalanta Corporation, said: “We are proud to bring the rich history of the Mitsui Foods business and the strength of the Empress brand to our portfolio.

“Atalanta Corporation, Camerican International and the Gellert Global Group are excited to integrate these assets and will continue to seek acquisitions in the specialty food import space and other food-related businesses.”

Atalanta said following the MFI deal it will be sourcing frozen fruits, seafood, canned fruits and vegetables from more than 60 countries.

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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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