Following the completion of Phase 1 of the Board’s strategy to implement a turnaround plan for the Group by focusing on its core assets, we are now moving onto the next phase to improve the profitability and cash generation of those core assets and to place the Group in a stronger position to deliver shareholder value.
The Group now comprises two excellent divisions, Cake Decoration and Food Ingredients, with clear objectives and strategies to achieve that objective.
In The Group’s Cake Decoration division comprises Renshaw in the UK, USA and Europe and Rainbow Dust Colours.
The love of home baking in the UK continues, fuelled by the continuing success of TV programmes such as The Great British Bake Off, the final of which in the autumn of 2017 was watched by a live audience of some 7.2 million people. Nine out of ten consumers shop in the home baking market, a market which is currently worth some £705 million at retail selling price, (according to Kantar, the research, data and insight consultancy).
Within that, cake decorating continues to grow and the visual appeal of the end product is fuelled by the ever-increasing use of social media. Renshaw’s product development capability recognises and aims to satisfy the growing need that the home baker has to create more ambitious and visually appealing cakes, not least by designing products that make the creative process as easy as possible.
Americas, Europe and Australasia
Frostings and Icing Discs
Export and novice opportunity
This division now comprises Brighter Foods.
One of the key trends in the huge food ingredients sector is towards an even-greater emphasis on healthy eating. Health considerations are now prevalent throughout the food chain, and have been for many years, with something like 29% of all in-home food purchases cited as being driven by health considerations (according to data from Kantar, the research consultancy).
Brighter Foods is especially well-positioned to benefit from consumer choice migrating from confectionery to healthy snack bars; the whole of this latter market is said now to be worth over £360 million at retail selling price.
Brighter Foods health bars (acquired April 2017)