Eurostar launch new

Venchi opens new flagship store in Piccadilly

Italian luxury chocolate and gelato manufacturer Venchi has announced the opening of its brand-new flagship store in Piccadilly, London, located at 164-165 Piccadilly Street.

The store is the brand’s biggest location yet in the city, boasting a total of 100 square metres. Other than hosting over 60 different types of chocolates to “Pick & Mix”, the gourmet Italian chocolate brand is bringing house-made gelato in 16 flavours, including the latest vegan options of four of its bestselling gelato flavours, two fountains flowing with Suprema chocolate spread, flavourful gelato shakes, and a wall of fame made of chocolate bars.

It doesn’t end there, as the space will have a dedicated coffee area to order signature drinks and crêpes as well as a selection of gourmet coffees with layers of Suprema spread and a choice of Chocoviar and Nougatine grains for the sweetest palates.

The venue will also exhibit its latest novelty, the Chocoviar wall, which is exactly what it sounds like - a whole wall entirely dedicated to the Venchi’s iconic collection, which represents the brand’s creativity at its finest. The secret recipe of the Chocoviar, say Venchi, is the contrast between its unique taste, consistency and mouth-watering fillings. A colour spectacle, the wall will be populated with all available flavours from the collection (Gianduia, 75% Chocoviar extra fondente, Pistachio, Crème Brulée and Crème Suprema).

Venchi now counts over 150 stores across more than 70 countries. In London, it is already present in Exhibition Road, King’s Road, Covent Garden, Hampstead and Richmond, and can also be found at luxury wholesalers Harrods, Selfridges, Eataly, and Fenwick. More recently, it opened a new store in Long Acre, in the heart of Covent Garden district and in Wardour Street, in the heart of Soho, an by the end of 2022, has in the works one more new opening at the newly renovated Battersea Power Station, bringing the total number of London stores to nine.

Daniele Ferrero, CEO of Venchi, said: “Venchi chocolate is an Italian institution, but it’s the brand’s willingness to innovate and expand that has kept it on chocolate-loving lips for so many years across continents. Thanks to this ongoing mission of elevating chocolate making to an art form, Venchi brings the true Italian tasting experience all over the world. We look forward to expanding our presence in the UK, a market of great taste.”

Eurostar launch new Pinsa fl our

Available from October 2022, Eurostar Commodities say that their new Pinsa fl our comes from the Latin word “pinsere”, meaning to stretch or to spread.

Invented during the reign of the ancient Romans, this traditional Roman pizza is seeing a massive resurgence of popularity in Italy, the company report. Coming out of Rome itself, the trend is forecast to grow all over the world so expect to start hearing requests for Pinsa and seeing Pinsa appearing on menus at top pizzerias, and even Pinserie restaurants that specialise, claim Eurostar.

The oval shape is a key feature of Pinsa Romana (pictured) and the texture is that of a crunchy outside with soft inside, the digestibility being achieved by several leavening-maturation techniques. The unique blend in Pinsa fl our includes wheat fl our, rice fl our, soy fl our and yeast.

Jason Bull, director, Eurostar Commodities said: “This is a very exciting innovation in pizza that holds a lot of attraction for customers with its traditional shape, look and feel but natural health benefi ts. The industry has a big job to communicate what Pinsa is and once people start seeing this appear on menus we think it is going to be a big trend. We’re delighted to have produced such a high quality Italian fl our that will create fantastic Pinsa Romana pizza.”

Eurostar Commodities’ Pinsa fl our is ideal for making high hydration Pinsa Romana, propose the company. High hydration enable bases to be pre-cooked at a lower temperature, they point out, and bases can be stored in the fridge or freezer. Chefs can add toppings and cook again later at a lower temperature so that an incredible rise can be achieved without the burn. The semi-fi nished product is also suited to making Pinsa in all the diff erent leavening and fermentation modes and for all types of processing, they add.

Just Eat expands on-demand grocery

Households in more than 60% of the UK can now take advantage of Just Eat’s on-demand grocery and convenience off ering, the company have announced.

Just Eat’s grocery estate in the UK has expanded from 20 sites to over 1,500 sites on the platform since launching in January. The service has seen rapid growth over the summer, with over 450 sites rolled out on the platform in July alone, due to successful partnerships with popular brands such as Asda, Londis, Budgens, One Stop and Central England Co-Op.

Just Eat currently off ers over 2,000 products for customers, which includes a number of essential items such as milk, eggs and bread. Milk remains the most popular item for consumers, they report, with enough pints sold in the last six months via Just Eat for the average Brit to make more than 17 million cups of tea.

As the largest food delivery aggregator in the UK, Just Eat says that it is committed to fi nding new ways to deliver the best service and range of options for its customers. On-demand delivery will continue to be an area of signifi cant focus to help more consumers access everything from store cupboard essentials to fresh groceries in a matter of minutes.

Amy Heather, director of Strategic Partnerships at Just Eat, said: “Just Eat’s grocery off ering is going from strength to strength. We’ve demonstrated to our partners the huge value we can provide with on-demand delivery and it’s amazing to see us expand so quickly. Since launching earlier this year, we’ve seen more and more of our customers relying on grocery delivery to support them in their busy lives. This is only the beginning and I look forward to announcing future big moves in this space to expand our grocery off ering even further.”

Just Eat Takeaway.com already supports over 25,000 grocery and convenience stores on its platforms globally, including partnerships with brands such as Spar, Albert Heijn (Ahold), Shell, 7-Eleven, Marqt, PLUS, Pascual Group, Galp, Kibus, Taste of America, Delicatessen Argentina, The Beer Store and Lieferando Express.

UK food and beverage sector M&A deal value drops by more than 90%

The latest UK Food and Beverage Sector M&A Report from corporate finance house, Oghma Partners, has revealed that UK food and beverage M&A (mergers and acquisitions) market activity in T2 2022 (May to August) saw a 29% drop off in deal volume when compared with the same period in the prior year.

Based in London, Oghma Partners is an independent corporate finance advisory firm providing acquisition, divestment, fund-raising and strategy advice to European consumer-focused companies and investors, and their analysis recorded 22 deals for the period with a corresponding overall estimated deal value of circa £270.0m compared to £3.9bn in the prior year period (a more than 90.0% decline, continuing the T1 trend, they observe).

Further notable highlights from the report included the fact that around 60% of deals had an estimated value of £20.0m or less, which is a continuation of what they saw in the first tertial, say Oghma.

Overseas buyers accounted for 36.4% of deal volume which is in line with the five-year average of 33.0%, they add (notable deals included Solina’s acquisition of Zafron Foods and Lotus Bakeries acquisition of Peter’s Yard as both companies continued to solidify their positions in the UK market).

Activity from financial buyers dropped off significantly only accounting for 9.1% of total deal volume for the period. This could be a sign of things to come as we are witnessing rising interest rates around the world which will impact on PE companies’ ability to raise debt to fund acquisitions, propose Oghma. Despite this, Endless LLP completed their acquisition of KTC Edibles, the Wednesbury-based edible oils supplier which was probably the largest deal in the UK F&B space during the period.

Grocery/confectionery was the most active category for the period with the most notable deal being Premier Foods acquisition of The Spice Tailor, marking their first acquisition since 2016.

Mark Lynch (pictured), partner at Oghma Partners, said: “Year to date August 2022 we estimate that the number of UK F&B deals totalled 50 in the period vs. 62 in the prior year, an overall

Chicago Town announces series of new developments

Chicago Town, the nation’s number one frozen pizza brand, worth £127.7m (IRI 13/08/2022 data), has announced the introduction of seven new products to its already popular range of Chicago-inspired pizzas – new trend-led flavour combinations, new bases and new premium toppings.

The innovations are set to keep Chicago Town front of mind for consumers and keep category energy high, claim the brand. The total frozen pizza category, worth £474.8m (KANTAR: 07/08/2022 data), is in growth (1.9% YOY) as we see more shoppers trading into frozen, with further gains anticipated as consumers look to further tighten their belts around both their choices for everyday meals that families enjoy and, takeaway treat occasions, without compromising on great pizza taste.

First up, Chicago Town is introducing ‘premium tiers’ to its much-loved Takeaway and Deep Dish ranges. New to Takeaway, the Weekender delivers all the indulgence and taste of a takeout with two tempting new, first to frozen, topping choices, Salt & Pepper Chicken and Philly Cheesesteak, and at a fraction of the price of the high street, claim the company.

New to Deep Dish, The Ultimate One will bring two new unique flavour choices aimed at younger consumers who look for interesting and special ingredients. A product combining everything that’s great about Deep Dish just made ‘ultimate’ - not just exciting new toppings but flavoured crusts to create something unique - Chilli Pepper Crust with Picante Nduja and Black Pepper Crust with Peppered Cheesesteak, all delivered within HFSS compliant formats. Inspired by their latest visit to Chicago, the frozen pizza brand is launching an entire new range – a pizza with a innovative super thin and crispy base. Inspired by ‘Tavern Style’, a local favourite in Chicago, the unique Crispy Chicago Thin is much thinner than anything on the market and loaded with delicious indulgent toppings, edge to edge, claim the brand. Launching in Loaded Cheese or Sausage ‘N’ Pepperoni these sharing pizzas are perfect for that weekend together treat occasion.

And, with 74% of weekend together treat occasions featuring sides (Kantar Worldpanel Usage, Total SB Pizza, % Share 52 w/e 26 December 2021) and accompaniments for that ultra indulgent experience, Chicago Town adds that it is excited to introduce new Tiger Crust Cheesy Garlic Bread. In a category currently dominated by own label, the new side offers a point of difference, featuring the brand’s much celebrated Tiger Crust base and allows Chicago Town to offer a fully branded solution for a weekend together treat or indulgent mid-week treat, say the company.

decline of 20.0% by volume, a decline that accelerated in the second tertial. The more dramatic story is the YTD deal value decline of +90.0% with an equal decline in T1 and T2. The decline in activity is similar to that seen in 2020 when the full impact of Covid on deal activity was noted. However, in that year there was a strong recovery in the final four months of the year as Covid challenges had been faced and corporate activity got back closer to normal.

“Particularly absent in the first eight months of the current year has been any sizeable transactions. In 2021 for example there were six deals with values ranging from £200.0m to £2.0bn with the average deal size of this group at £1.1bn. The decline in deal activity we believe is related to a number of factors. Firstly, business uncertainty - the trading environment is difficult, many food & beverage companies have had to put through sharp price increases with more to follow in the coming months. Profitability is under pressure and the outlook uncertain putting off buyers and sellers alike. Secondly, debt availability and cost – it appears that liquidity is getting tighter with banks less willing to lend and the cost of debt is rising as governments seek to both fight inflation and fund expansionary fiscal budgets. Thirdly, changing appetite for risk – a declining appetite for risk is seen in public markets via rising bond yields, a falling bond market and lower debt availability. Buyers changing appetite for risk is noted by increasing hurdle rates and lower valuations as a result.”

Head of marketing for Chicago Town, Paula Wyatt commented: “Innovation is crucial to our brand growth strategy. We know that consumers are really motivated by ‘new’ and look to Chicago Town for exciting new pizza experiences.

“We’ve invested heavily into research, we regularly send our entire team to Chicago to gather first-hand insight and pull in pizza experts. This has allowed us to deliver our most ambitious programme of new products in some time, bringing first to the frozen category flavours like Nduja, Philly Cheesesteak and Salt and Pepper Chicken.

“We know more and more consumers are discovering that frozen food offers outstanding quality, great value and now more than ever can help manage household budgets. Our aim is convince more and more pizza lovers to look to frozen.”

Chicago Town reports that it is investing heavily in reaching new customers. Over the Summer, 75,000 samples of Deep Dish were given out to pizza and music lovers across 15 days at festivals up and down the country, including a festival exclusive, Sausage and Blueberry Deep Dish which blew up the brands’ socials.

The new innovations are being supported by a heavyweight marketing campaign which will see Chicago Town invest £3.7M in 2022. The brand will be back on TV in Q4, focused on football spots to link into the weekend together treat occasions. In addition, VOD, out of home spanning major cities, digital, shopper marketing, PR and commercial partnership campaigns will see the personalityled brand dominate the frozen pizza category.