MEGGLE plans to move into an acquisition phase this year, according to managing director Matthias Oettel. The acquisition of a majority stake in the baguette bakery M-Back and the purchase of Bavarian cheese maker Stegmann are to be only the prelude to extending the competence in the butter business to other areas. Oettel has already announced further steps for the autumn of this year, “rather three than two”.
Most recently, MEGGLE had reported consolidated sales of €922m for 2019,0.7 per cent more than in the previous year. In 2021, Oettel said, turnover would be “still just under one billion euros”. The goal, however, is to soon reach “other orders of magnitude”. Consumer products contribute two-thirds of the turnover, half at home and half abroad. The rest is accounted for by the strongly internationalised industrial business. In the meantime, the previously loss-making foreign business is making a considerable contribution to the result, says Oettel.
The company has also recently invested significantly more in advertising. In 2020, the advertising budget increased by 10 per cent, this year it is expected to grow by 15 per cent.
