Released: 13/01/2009
http://pdf.reuters.com/Regnews/regnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20090113:RnsM4981L
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RNS Number : 4981L
Real Good Food Company Plc (The)
13 January 2009
The Real Good Food Company plc
Consolidation of core business units to form renshawnapier
As previously indicated in its interim results announcement and in the December
pre-close trading statement, the Group has undertaken a strategic review of its
current operations. The Board has now concluded this review and decided to
develop the two principal pillars of the group, by consolidating the Renshaw and
Napier Brown Foods businesses into one unit, to be re-named renshawnapier, and
based in Liverpool.
The new business unit's strategic focus will be to build and drive value from a
broader portfolio of both raw and value-added ingredients, run by a single
management team in multiple channels and product sectors, with added flexibility
to deliver and meet the challenges ahead.
renshawnapier will encapsulate the strengths of the respective businesses,
ensuring their heritage and inherent capability continues and is significantly
enhanced in the new, more focused, business structure. This new business will be
seeking to leverage its unique position in the market with both current and new
customers.
The reorganisation is expected to be cash neutral in fiscal year 2009, but is
expected to produce annualised cost savings in the region of £0.8m.
Stephen Heslop, Chief Executive Officer of Real Good Food, comments:
"I am extremely excited about this new development and the prospects it brings
to the group. Our new and flatter management structure, with head office and
principal business now consolidated onto a single site, will be better able to
manage the challenges and seize opportunities within our market places."
Haydens Bakeries will continue to be managed as a separate stand-alone business
unit.
13 January 2009
Enquiries:
The Real Good Food Company plc Tel: 0151 706 8200
Stephen Heslop, Chief Executive Officer
Lee Camfield, Chief Financial Officer
Shore Capital Tel: 020 7408 4090
Guy Peters
College Hill Tel: 020 7457 2020
Gareth David
Note to EditorS
The Group's two operating divisions are:
Ingredients: renshawnapier is the UK's largest independent non-refining
distributor of sugar, supplying customers throughout the industrial, retail and
food service industry. The business brings together over a century of heritage,
knowledge and delivery of premium quality ingredients as a leading manufacturer
to the food industry. It is also a leading manufacturer of marzipans,
ready-to-roll icings, baking chocolate and jam supplying major cake
manufacturers, high street bakers and retailers.
Bakery: Haydens Bakeries and Seriously Scrumptious produce chilled and ambient
premium patisserie and dessert products for supply to retail grocery customers.
Further information about the Group is available via the website:
www.realgoodfoodplc.com
www.renshawnapier.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
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