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January 7, 2021

US fruit-snacks firm Brothers International Food Corp. wants M&A

US fruit-snacks supplier Brothers International Food Corp. is eyeing acquisitions after a change in majority control at the business.

By Dean Best

US fruit-snacks supplier Brothers International Food Corp. is eyeing acquisitions after a change in majority control at the business.

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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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The New York state-based company, which markets branded and own-label freeze-dried snacks and acts as an ingredients business, has announced US private-equity firm Benford Capital Partners Management is its new majority shareholder.

Travis Betters, who set up Brothers International Food Corp. with his brother Matt in 2001, remains CEO and a “major shareholder” in the company, Whipstitch Capital, the M&A advisors that worked on the deal, said. Financial terms were not disclosed.

“Travis partnered with Benford to accelerate growth,” Whipstitch Capital said. “It’s business as usual with all management still in place. Brothers is considered a platform company actively looking to acquire additional companies.”

Brothers International Food Corp. owns US freeze-dried snack brand Brothers-All-Natural, as well as US wine importer Lost Vineyards. The company supplies fruit and fruit-juice concentrates to food manufacturers.

Commenting on the deal, Benford Capital Partners managing director Ben Riefe said: “Brothers is a differentiated, niche-market leading food company with an exceptional reputation as an innovative, value-added partner to a diverse and blue-chip customer base.”

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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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