Italian food company Granarolo reported consolidated sales of €1.18 billion in 2016, up by 9.5% compared to 2015.
Granarolo's Milk and Beverages unit recorded sales of €440.8 million (-5.6%); Cheese & Butter recorded revenues of €477.8 million (+11.7%), thanks to increased exports to Asian countries; while its Other Products section (yoghurt, vegetable products, ham, balsamic vinegar, pasta and bakery products) reported revenues of €262.1 million (+43%), mainly due to new acquisitions.
The group's sales are traditionally concentrated in Italy. The percentage of revenue in the EU increased by 24.5%, whereas the extra-European market has more than doubled over the previous year (+165.4%).
From 2011 to date, turnover outside the country increased by 4% to over 24%. The group aims to exceed 35% in the next two years.
The product portfolio has shifted in recent times. In 2010, milk (fresh and UHT) represented 60% of turnover, while today it stands at around 40%.
During 2016 and the first three months of 2017, Granarolo acquired eight companies: Granarolo Baltics (Estonia), Matric Italgross (Sweden), Comarsa and Angira (Switzerland), Pandea Dietetica (Italy), Fattorie Giacobazzi (Italy), Conbio (Italy), San Lucio (Italy) and Allfood Importação, Indústria e Comércio (Brazil).
Read more about its recent acquisitions here.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine