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Valeofoods, Nov. 2013
1. Bank of Ireland Agri-Food Conference Kilkenny
21 November 2013
2. Agenda
1. Who We Are & What We Do
2. A Changing and Challenging Environment
3. Growth through Transformation and Innovation
4. Building on this Growth Platform
2
4. The Birth of Valeo Foods
November 2010
September 2011
Origin Foods and Batchelors
merger to form Valeo Foods
Valeo Foods acquires
Jacob Fruitfield Group
4
5. Valeo Foods
•
Now the largest ambient food supplier to Irish retailers
•
342 employees
•
A predominantly branded business
•
Two large Manufacturing Sites
•
Ireland’s largest temperature controlled ambient
distribution facility
5
6. Integration – Establishing the Platform
One integrated
Sales Force
New structures &
streamlined
processes
HQ & distribution
integrated
Single IT
platform
Best-in-class
commercial team
Significant
Systems upgrades
Top 5 supplier to
Irish grocers
6
7. Ranked on Value sales in each bracket
Valeo is the No 1 ambient food supplier in
Ireland
v
v
Under €75m
€75m - €100m
€100m - €150m
7
€150m - €250m
Over €250m
8. Valeo is A Brand Driven Business
No.1 biscuit brand
No.1 canned
brand
No.1 flour
brand
No.1 juice
brand
No 1
or strong No 2
in all our key
categories
No.1
marmalade
brand
No.1 dried
fruit brand
No.1 pasta
brand
No.2 dry
sauce brand
No.2 ketchup
brand
8
13. Total Grocery market sales have grown over 52w by +1.1% to
almost €9bn, with recent 12w growth of +0.6%
Total Grocery - market value & YoY %chg
+0.4%
+1.1%
13
(Source: Kantar Worldpanel )
14. Market dynamics
•
Very competitive market in a challenging economic
environment
•
Price sensitive consumers trading down
•
Private Label growth
•
Discounters growing footprint and share
•
Multiples fighting for footfall and share
14
15. Strong presence of local and
international brands
•
Food market characterised by the strength of local brands
•
Larger Irish groups hold strong positions in certain staple
categories
•
•
Glanbia, Kerry
Multinational groups also represented
•
Nestle, Kraft, Unilever
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21. Our Model - The Virtuous Circle
Generating
Operational
Efficiencies
Driving
Category
Growth with
Customers
Focus on
Core Brands
Renovating
& innovating
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23. Everything Is Based On Insight..
Telephone Research
Focus Groups
Assisted Shops
Digital Media
Workshops
Focus Groups
23
Consumer
Preference Tests
Focus Group
Screening
24. Odlums & Shamrock - Renovating to
Differentiate
September 13
24
September 13
29. Investing Behind Core Brands
ad
o b s TV
Ja c
Odlums exclusive
sponsor of the The Great
Irish Bake Off
Airing in October to
December 2013
29
vert
Airing in October to
December 2013
30. Driving Category Growth with Customers
Example – Insight To Execution :
Tesco Home Baking Fixture
Consumer
insight
Category
strategy
Customer
execution
30
Customer
JBP
Accelerating
category
growth
31. A €5M Brand Transformation Programme
Creating
Renovating
44
220
New Products
Packs
31
33. Growing our Brands
• Continued to drive from Growth Platform
• Invest in People and Processes
• Brand Investment
• Continued Renovation
• Win-win with Customers
• Pipeline of Innovation
33
34. Growing our Footprint
Double Our Turnover
M&A Criteria
•
Ireland, UK, Continental Europe
•
Category leading brands either #1 or #2
•
Complementary products/categories
•
Ease of integration
•
Opportunities for cost/growth synergies
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35. Key Messages
• Combined three iconic Irish food businesses to form
Ireland’s largest ambient food company
• Economic environment continues to be challenging
• Significant shifts in Consumer behaviour are here to
stay
• These challenges demand strategic focus
• Valeo focus on Brand growth through transformation
and innovation
• Build on this growth platform and broaden horizons
35