“This acquisition represents a compelling opportunity to bring a key strategic capability closer to the Woolworths Foods business, strengthening one of the core points of differentiation in our premium food offering,” said Roy Bagattini, CEO of Woolworths Holdings Limited.
The announcement comes as Woolworths plans to acquire 100% of In2food, a company that generates over R5 billion in annual revenue. In2food has been a critical supplier to Woolworths for more than 30 years, producing a diversified range of premium private label products.
In2food operates eight world-class manufacturing facilities, producing over 3.2 million packs weekly. This acquisition is expected to enhance Woolworths’ ability to protect product quality, innovation, and availability, which are essential to its differentiated customer proposition.
Bagattini emphasized the long-standing relationship between the two companies, stating, “Woolworths and In2food share a more than three-decade history of partnership in creating products of outstanding quality and innovation to meet the evolving needs of our customers.”
Richard Cooper, a spokesperson for Woolworths, added, “The transaction further enhances Woolworths Foods’ ability to protect product quality, innovation and availability, which are core to its differentiated customer proposition.”
The acquisition is subject to regulatory and commercial suspensive conditions, and Woolworths intends to retain In2food’s existing senior leadership team post-acquisition. This move is seen as a strategic alignment that will bolster Woolworths’ position in the competitive food market.
In2food was formed through the merger of Interfruit and Lombardi Foods in 2010, and has since established itself as a leading supplier in the industry. The upcoming acquisition marks a significant milestone in the ongoing evolution of Woolworths’ food business.
As the deal progresses, stakeholders will be closely monitoring the developments and implications for both companies involved. Details remain unconfirmed.
