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November 26, 2020

UK’s Cranswick invests in new bacon plant for foodservice

UK food manufacturer Cranswick is due to open a new plant next year producing cooked bacon for the out-of-home channel.

By Dean Best

UK food manufacturer Cranswick has announced a GBP20m (US$26.7m) investment in a new bacon facility in the northern English city of Hull.

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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.

The project is expected to create 100 jobs at the site in Helsinki Road, Sutton Fields, where production is due to start “early” next year. It has been built alongside an existing Cranswick factory, the Gourmet Sausage site, or Lazenby’s.

Cranswick’s Hull facility will initially supply cooked bacon to “a market leading quick-service restaurant”, reported in the media as being fast-food chain McDonald’s, with plans for further expansion.

CEO Adam Couch said: “Our roots are firmly in Hull and I am pleased to be able to announce the investment in the new cooked bacon site, and the creation of 100 jobs in the city to support the local economy further and provide a much needed boost to employment.”

A number of plants run and owned by Cranswick have been impacted by Covid-19 in terms of infections among workers, and in some cases deaths. Couch extended his thanks to his employees.

“I am incredibly proud of our colleagues who have performed so brilliantly in responding to the extraordinary and unparalleled challenges we currently face. I would again like to thank them for their professionalism, commitment, dedication and passion,” he said.

Earlier this week, Cranswick reported its first-half financial results, which included a 21% rise in revenue to GBP931.6m. Revenue was up 17.3% on a like-for-like basis.

Operating profit stood at GBP55m, compared to GBP48.4m a year earlier. Cranswick’s profit for the period was GBP42.9m, against GBP37.9m in the first half of its previous financial year.

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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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