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April 19, 2021

The Fresh Factory buys US bar maker Phyter Food

By Dean Best

The Fresh Factory, a plant-based food and drink contract manufacturer in the US, has acquired healthy snack bar business Phyter Food.

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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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Illinois-based The Fresh Factory says it also “partners with emerging food and beverage brands” and has created a “vertically-integrated platform to accelerate the growth of new brands” in the plant-based arena. Consequently, it has purchased Phyter Food, a business jointly founded in 2016 by Gloria Athanis, chef David Choi Jr., and Jeff Adeszko.

Financial terms for the deal, which is expected to close in July, have not been disclosed.

Phyter Food, also located in Illinois, produces a range of chilled organic snack bars such as a cocoa brownie, peanut butter cookies and carrot cake all made with 100% plant-based ingredients. They are free-from gluten, soy, dairy and GMOs.

"Phyter will give us the ability to reach more customers in a food category that we have been looking to get into," Bill Besenhofer, the president and COO of the Fresh Factory, said in a statement. "This acquisition will help us to continue our expansion into all corners of the plant-based food space."

Phyter's Choi added: "This will only help further our mission to create delicious plant-based snacks that support a healthy lifestyle. We look forward to continuing Phyter's growth and development as part of this innovative company."

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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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