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October 17, 2019

UK’s Peter’s Food Service to expand on the back of order wins

Peter's Food Service, a UK manufacturer of savoury baked goods, is to create 110 jobs after a "significant increase in orders".

By Leonie Barrie

Peter’s Food Service, a UK manufacturer of savoury baked goods, is to create 110 jobs after a “significant increase in orders” resulting from an on-going business review.

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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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The Bedwas, South Wales-based business – which makes pies, pasties, slices and sausage rolls under the Peter’s brand – said it is already in discussions with workers who were made redundant following the recent closure of the Triumph furniture factory in nearby Merthyr. 

It is also to change to a two-shift operation later this month to meet demand.

Peter’s said its new deals are to supply “several leading UK brands and retailers” but did not name them “for commercial reasons”.

Managing director Mike Grimwood said: “The past few years have seen extremely challenging market conditions, particularly with an exceptional increase in raw material costs.

“Last year, we announced a strategic review of our business to ensure its sustainability and ultimately future growth.

“As a result of this review a decision was taken to terminate several contracts which we considered unviable for the business, and to explore discussions with others where we identified mutually beneficial opportunities.

“In addition, we have invested heavily in innovative products that will aid us to diversify into new product areas whilst maintaining the core heritage products that Peter’s is famous for.

“These new deals are a consequence of that on-going business review.”

The company currently employs 730 people and has annual revenues of GBP65m (US$83.1m).

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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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