1 Jul 2013 07:00
Date: | 1 July 2013 |
On behalf of: | Finsbury Food Group plc ('Finsbury', 'the Company' or 'the Group') |
Embargoed until: 0700hrs | |
Finsbury Food Group plc
Expansion of Bread manufacturing facilities
Finsbury Food Group plc (AIM: FIF), a leading manufacturer of cake, bread and bakery goods, is pleased to announce that it is significantly expanding its bread manufacturing facilities, extending the capacity and capability of the Group's Bread business.
The anticipated timeframe for the expansion is in stages over the next two years commencing with the Group having secured a 15 year lease on a 25,000 sq. ft building, which neighbours its existing Nicholas and Harris bakery. The factory will be extended into the new building, significantly expanding the capacity of the bakery, whilst allowing for more efficient and environmentally conscious premises. The Group's Bread business will now have the capacity to meet its customers' growth expectations.
John Duffy, Chief Executive of Finsbury Food Group plc, commented;
"We are very pleased to be investing in our speciality Bread business following its consistent growth over the past few years. We continue to benefit from growing demand for speciality Bread and look forward to the benefits that this expansion will bring."
For further information: | |
Finsbury Food Group plc | www.finsburyfoods.co.uk |
John Duffy (Chief Executive) | 029 20 357 500 |
Stephen Boyd (Finance Director) | |
Cenkos Securities plc
| |
Bobbie Hilliam (Corporate Finance) | |
Alex Aylen (Sales) | |
Redleaf Polhill | finsbury@redleafpr.com |
Rebecca Sanders-Hewett | 020 382 4730 |
Jenny Bahr Rachael Brown |
Notes to Editors:
§ Finsbury Food Group plc (AIM: FIF), is a leading manufacturer cake, bread and bakery goods. Within its Cake business, the Group's focus is premium and celebration cakes plus low fat cake slices. Its Bread business manufactures artisan and organic bread and also morning goods.
§ Finsbury Food Group is the second largest manufacturer of Ambient Packaged Cake (excluding In Store Bakery) in the UK, a market valued at £903 m (Source: Kantar Worldpanel Total UK Coverage, 52 we 23rd December 2012).
§ The Group's strategy is to generate returns for shareholders by building a crafted bakery group focused on premium, celebration and well being that delivers for customers and consumers. Finsbury continues to develop its licensed brand portfolio to complement its core retailer brand relationships and improve its understanding of and response to changing consumer needs.
§ Whilst the Company sees exciting organic growth opportunities in all its businesses and its short-term focus is on integrating and growing its existing businesses, the aim is to take advantage of the appropriate bolt on acquisitions to drive longer term value as opportunities and circumstance allow.