Food Union Group, one of Europe’s leading ice cream and dairy production and distribution groups, recorded positive results in 2020, especially a 6% growth in revenue. Amidst the pandemic, Food Union was still able to build its portfolio of brands and expand its consumer base across Europe, East Asia and beyond.
“Successful, purposeful navigation through these challenging times resulted in strong sales performance of EUR294m turnover, representing a 6% growth compared to 2019. The Group’s EBITDA grew by almost 46%, reaching EUR46m and profits quadrupled from EUR2m to EUR8m,” according to Normunds Staņēvičs, head of Food Union Europe.
These results have been partly driven by Food Union’s heightened focus on its diverse consumer base and its distinct, expansive insights into consumer preferences and market trends. The company’s strategic investments in research and development, product innovation and e-commerce services proved advantageous to connecting with customers and innovating leading products, a statement reads.
“Though some consumers stick to what they know, others seek out adventure. Food Union gives it’s brands the freedom and flexibility to craft unexpected and delicious flavours rooted in deep consumer preference insights and research into market trends,” Staņēvičs added. “Consumers, especially younger generations, are eager to discover new brands, try new products and experiment with tastes and formats. Food Union looked to innovate both classical and adventurous product offerings to provide each consumer base with the products that fulfill their cravings.”