Food Ingredients is a broad market sector and with major product sectors driven by commodity pricing.
Food Ingredients profile 2017/2018
The Food Ingredients division has undergone a fundamental transformation during the past two years, with the exciting, value-adding acquisition of 84.33% of Brighter Foods at the start of the financial year. Conversely, shortly after the end of the period, in line with our current strategy, we divested Garrett Ingredients, recognising that its net value to shareholders was better realised from a disposal than from continued ownership (note 34). The trading conditions faced by Garrett Ingredients in the year, resulted in recognising an impairment of £3.5 million (see note 16).
During the year to March 2018, there was also considerable investment in R&W Scott, where the acquisition of one multiple retailer’s jam business added significant volume, though at lower than normal margins for this business. Brighter Foods performed well during the period and helped move the division into positive EBITDA (adjusted), although commodity prices were unhelpful for the trading business and for R&W Scott for much of the year.
The acquisition of Brighter Foods has provided the Group with a robust and stable platform in the growing health food & wellness market. Brighter Foods, acquired in April 2017, creates and manufactures snack bars for the healthy snacking market from its factories in Tywyn, Gwynedd in Mid Wales.
This multi-award-winning company produces snacks which are targeted at areas such as diet control, gluten free, lactose free, low or no added sugar, sports nutrition, organic and fair trade. As well as manufacturing partner-branded products, Brighter Foods has its own healthier brands such as Wild Trail, which is stocked in major retailers and health food stores.
Food Ingredients includes the following business:
Brighter Foods manufactures snackbars, both own label and branded, targeted at the growing health and 'healthy lifestyle' markets; e.g. slimming, sports nutrition, 'free from' and organic.Visit brighterfoods.co.uk >