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October 13, 2021

Charoen Pokphand Foods strikes two M&A deals in Poland

One of the Thai meat and shrimp giant’s transactions centres on a supplier of plant-based meat substitutes.

Thailand-based meat and seafood major Charoen Pokphand Foods has invested in three businesses in Poland.

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  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
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Charoen Pokphand Foods (CPF), which has a European arm that already has assets in Poland, has bought a 50% stake in meat-substitute company Well Well Invest.

The company, meanwhile, has also acquired two seafood businesses – Fish Food and MaxFish – from owners Paweł Krześlak and Małgorzata Krześlak.

CPF said Well Well, which sells meat substitutes under its namesake brand, would be run as a joint venture. Well Well’s existing shareholders will remain with the business. ZPS Convita, which had owned 89.6%, will hold 44.8%. BNP Paribas Bank Polska will see its stake halve from 10.4% to 5.2%.

The Thai giant is paying PLN10m (US$2.5m) for its stake in the business and plans to pay another PLN10m to subscribe to convertible bonds to be issued by the company.

Well Well, based in Warsaw, also sells plant-based meat products under the Polsoja brand in Poland and the Hobelz brand in neighbouring Germany. CPF said Well Well’s product range includes sausages, tofu, spreads, falafel and burgers.

CPF launched its own plant-based meat brand, Meat Zero, earlier this year.

The company is putting up a further PLN12m to buy Fish Food and MaxFish and take on the business’ loans. Fish Food manufacturers products including breaded seafood and marinated fish. MaxFish is a seafood distributor and trader.

CPF said the acquisition would “diversify the company’s product portfolio and customer base” in Poland, where it already has a poultry business.

The group’s European operations also take in subsidiaries in the UK, Belgium, Turkey and Russia.

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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.

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