Grant Thornton’s head of food mergers and acquisitions, Phil Jackson has warned that, as well as massive consolidation pressure that could lead to job losses, there is a further workplace dynamic at play in the fresh produce arena. “What we are already starting to see is that a lot of the eastern Europeans that came to work in the UK in the produce arena are starting to flow back to their own countries because of inflationary pressures.”
Jackson also warned that profit this year will be the main problem in produce. “A couple of years ago, most produce companies did well,” he said. “But last year, weather problems hit the balance sheets hard, and this year profitability will be affected again. The vulnerable will suffer.”
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