Dried fruit and nuts producer Importaco Group has reported a 13% increase in full-year 2020 sales, largely driven by the acquisition of rival Besana as well as the impact of COVID-19 on consumer habits, the group said.
The Spain-based group reported sales of €661.8 million for the year, with post-tax profits slightly lower at €18.4 million (€22.4 million the previous year), as a result of extraordinary costs associated with the pandemic.
Last year's integration of the Besana business led to Importaco becoming the 'largest nut manufacturer in Europe' with a volume exceeding 105 million kilograms, the company said, which was 14% higher than the previous year.
'Sheer Commitment'
"The sheer commitment of Importaco’s staff has been the most significant driver in this year’s success," commented Toño Pons, Importaco president.
"In the face of the pandemic, our team has supplied food to our customers around the world, Besana has integrated into the wider Importaco Group, and we have used the crisis to develop and refine our business strategies. These milestones could never have been achieved without the knowledge and determination of our team."
Capex Investment
Importaco invested around €25 million last year in upgrading its production plants, with €18 million spent on expanding the capacity of its factories.
It also announced the completion of its 2018-2020 sustainability strategy, under which it achieved a 10% reduction in energy consumption and 95% renewable energy usage. In addition, it increased its workforce by 6%, noting that it now employs more women in leadership positions across its operations.
Founded in 1940, and boasting 17 factories around the world, Importaco's retail offering is present in Italy, the UK, Belgium, Germany, Poland, and Scandinavia, as well as its native Spain.
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