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September 6, 2017

Spain’s Ebro Foods buys majority stake in Italy’s Geovita

Spain's Ebro Foods bought a 52% stake in Italy's Geovita Functional Ingredients and its subsidiary Geovita Nutrition for EUR16.5m (US$20m) as part of its growth in the healthy food category.

By Simon Harvey

Spain’s Ebro Foods bought a 52% stake in Italy’s Geovita Functional Ingredients and its subsidiary Geovita Nutrition for EUR16.5m (US$20m) as part of its growth in the healthy food category.

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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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Geovita is a seller of legumes, rice, fast-cooking grains and other healthy ingredients. The company has a workforce of 94 across three production plants in Bruno, San Giovanni Lupaloto and Villanova Monferrato.

“This operation is part of the Ebro Group’s growth strategy in the Convenience and Healthy Food segment and demonstrates the company’s commitment to offering and promoting a healthy diet and lifestyle, in which legumes play a very important role,” Ebro said today (6 September).

The deal is Ebro’s third of 2017. In April, Deoleo, the Spain-based olive oil supplier, has sold its last remaining rice business asset in the country to Ebro.

In January, Ebro snapped up Spanish organic business Vegetalia. That deal followed another Ebro made in the organic sector when in early 2016 the company bought French organic food group Celnat.

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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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