Marr, revenues higher than the market trend
The Group focuses interventions in favor of sustainability and digital development
MARR S.p.A. the leading company in Italy in the sale and distribution to the foodservice of food and non-food products, closed the first quarter of the year by completing the acquisition of the Verrini Group (see here the article) and with revenues from sales in line with the forecasts. Recent statements by the president of ENIT Giorgio Palmucci have provided elements confirming the validity and effectiveness of the strategies defined and implemented by MARR. In particular, a certainty emerges that the full recovery of the tourism sector will enable the results to return to 2019 levels by 2023 and that the Food and Made in Italy components, and thus the “food experience”, will continue to be one of the main reasons why overseas visitors will choose one destination rather than another.
These two pillars (certainty as to the recovery and return to normality and close attention to the quality and origin of food) are the basis of MARR’s consolidation and development strategy, with the confirmed and implemented “customer in mind” approach as the constant guideline. In this context, and in line with the medium-term strategies defined and illustrated in the past, the concrete interventions in support of sustainability and digital development are to be found. Environmental sustainability is a reference point that is kept in highlight in managerial decisions, but also leads to daily activities that have a significant impact.
For example, MARR has for some time now been using recycled material for its packaging, which is fully compliant with the regulations in force for the movement of food products, and it also pays the closest of attention to the respect of sustainability in terms of production and origin (for example the certification of the process of monitoring the sustainable seafood chain or animal wellbeing in the farming of laying hens). In addition to this is the more recent decision to develop and propose to foodservice operators, and also to the final consumers, an increasingly wide range of goods produced locally, or at least domestically, the sale and distribution of which is promoted by the MARR distribution network, which is unique in Italy, with more than 40 logistical units operating nationwide. A good example of this is the new line of territorial products called “Della Nostra Terra”, which includes Italian delicacies with IGT and DOP certification or in the PAT (Traditional Agri-food Products) list.
In this context, the “MARR Easy Menu” project is also included which, in addition to ensuring that the Client is supported in the best management of the current uncertainty caused by the changing opening/closing regulations, drastically reduces potential waste and is an addition to the already tried and tested delivery and take away lines, even under non-emergency conditions. MARR’s activities in terms of ESG are described in the appropriate section of the website containing the 2020 Consolidated Declaration of a Non-Financial nature (www.marr.it/en/sustainability) drawn up according to the GRI guidelines for sustainability reporting. The digital development front, which is more recent although an EDI system for the more structured Clients has been operational for some time, is already a concrete reality for MARR and its Clients. In addition to having adopted the ”phygital marketing” concept some time ago, the new frontiers mainly include a new “myMARR” app. Through this application, Clients can keep in constant touch with MARR, with continuous updates on marketing initiatives, and also have access to an on-line catalogue with recipes, technical files and ingredients and manage their account with direct and easy access to electronic payments.
In the quarter, Marr achieved total revenues of over 185 million Euros, compared with the approximately 262 million of the same period of 2020. In the face of the significant contraction in the first two months, a decidedly positive trend was recorded in March. despite severe health restrictions. The decline in revenues for the quarter (approximately -29%) compares with consumption which, in terms of value, we believe can be around -32% in the period (this value is an estimate by the company which takes into account the data on quantities processed by the studies office of confcommercio, hotels, meals and out-of-home drinks, respectively –58% and -42.6%, and for the month of March of internal assessments). Marr has concluded the acquisition of the two companies of the Verrini Group (total revenues of approximately 55 million euros in 2020) operating in the fresh fish sector, both on the catering market and on the distribution to end consumers.
The Antonio Verrini Srl company will continue to operate in Liguria and Versilia through the 5 distribution centers it already has and will have the dual objective of further developing the contiguous territories and assisting the Marr branches in increasing the level of service, on the product categories that characterize it, in favor of customers. The company chef Srl (which operates by renting the Chef Seafood company) will continue the current activities of processing fish products for their marketing both directly and through the structure of the Marr branches operating in the neighboring areas.
The operational and managerial responsibility of Antonio Verrini Srl is entrusted to the managing director Manuel Verrini who will be assisted by the board of directors which is composed, in addition to him, by Francesco Ospitali and Ugo Ravanelli (with the function of president). As regards Chef Srl, the coordination of operational management is entrusted to Andrea Piccioni who will report to the sole director Pierpaolo Rossi . The acquisition envisaged a valuation (including the assumption of debts) of 8 million euros, with a part of payment deferred to 12 months, in addition to an earn out in favor of the sellers, up to a maximum of 2 million euros. , linked to the achievement of specific results in 2022.
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