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(Sharecast News) - Fresh cream cake retailer Cake Box has opened its 150th store in Romford, it announced on Monday, which is also its 66th since its initial public offering on the AIM market in June 2018.
The AIM-traded firm said that alongside the store roll-out programme, it had made further progress on strategic initiatives including the development of its own-brand delivery platform, complementing its existing click and collect and third-party delivery offerings.
Following investment to support the group's continued expansion, operations at Cake Box's new bakery and distribution centre in Coventry were due to begin shortly, which the board said would complement existing facilities in Enfield and Bradford.
New product innovation, which had been rolled out to customers, included improved loaf cake ranges, with gluten free and vegan options, alongside a ready-made, egg free custard.
"We're thrilled to have reached this landmark in the Cake Box growth story," said chief executive officer Sukh Chamdal.
"This is testament to the entrepreneurialism and quality of our franchisees and the resilience of our business model, which has shone through over the last twelve months, in a difficult environment.
"The world is still an uncertain place, but the progress we've made in bringing our unique proposition to more customers than ever gives us confidence that we will continue our growth journey and emerge a bigger, better business."
At 1115 GMT, shares in Cake Box Holdings were upo 3.85% at 216p.
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