A look at five companies from the 2011 list….
For eight years Catalyst Corporate Finance, the UK business of Alantra, has scoured the industry to find the UK’s fastest growing food and drink businesses for The Grocer’s annual Fast 50.
And from the stalling economy of 2010 to the Brexit uncertainty of 2016, the business climate has been different each time. “Reading back through some of these tables, and the themes of the day, it’s easy to forget how the economy was stalling through 2010 and 2011 and how hard this was hitting consumer spending,” says CCF director Simon Peacock. “Given the lofty heights of share indices and credit liquidity today, a growing business in the food industry back then was quite battle-hardened, lean and fleet of foot. Brexit was certainly not an issue.”
But through it all being a Grocer Fast 50 was a real credential, with many businesses that have made up the list going on to bigger and better things.
Here, CCF takes a look at where five companies have ended up since appearing in the prestigious list.
Ella’s Kitchen
No 1 in 2011, with sales of £16m and 106% CAGR
Last reported sales before sale to Hain Celestial in the US: £41m
What happened? SOLD
Ella’s Kitchen was only five years old when the offers started flying in. Back then it was still a new concept to ‘challenge’ the huge corporates in core food categories like baby food. Ella’s Kitchen showed just how successful a quality-tasting product with a novel packaging idea could be against poor recipes and tired glass jars. The theme continued following Ella with a new breed of healthy and nutritious baby foods, breakfast and snacking foods bursting onto the scene. When Hain Celestial swooped in 2013, Ella’s last set of reported sales showed it had nearly tripled again.
Aston Manor Brewery
No 5 in 2011, with sales of £79m and 35.8% CAGR
Last reported sales: £108m
What happened? STILL PRIVATE - RUMOURS OF A PROCESS
Before the craze of craft breweries and Brewdog euphoria, there was the cider growth craze. Aston Manor managed to benefit from this and made a number of astute acquisitions to more than double capacity. Pushing into premium was also a part of the strategy and despite the cider market slowing, Aston Manor has continued to go from strength to strength. Rumours mount that the Ellis family are considering their options.
Seabrook Crisps
No 6 in 2011, with sales of £28.3m and 35.7% CAGR
Latest reported sales: £27m
What happened? MANAGEMENT BUY-OUT
Seabrook’s fortunes have ebbed and flowed over its history, which is no surprise in an industry that grows winners like Tyrrells but creates such tough competitors as Walkers. Seabrook Crisps has always had heritage but it needed a quality refresh to get it back on track. Despite sales going backwards a little, this successfully led to an investment by LDC in 2015. The future looks bright.
Westbridge Food Group
No 7 in 2011, with sales of £166m and 34.3% CAGR
Last reported sales before sale to CPF Investment: £340m
What happened? SOLD
The KFC popcorn chicken supplier grew through a range of M&A, widening range and winning new business. This continued at a rapid pace with growth across restaurants, pubs and retail. Such a high growth platform into Europe became too much to resist for Thai-based CPF Investments, a subsidiary of Charoen Pokphand Foods, which acquired the business for £60m earlier this year.
Tyrrells Group
No 42 in 2011, with sales of £16.9m and 14.4% CAGR
Last reported sales: £61m
What happened? SOLD
The low ranking of Tyrells in 2011 was always going to be misleading considering its global presence today - the subsequent year it was up another 22%. The brand, which started by avoiding the retailers, increased its retail penetration for volume growth and showed significant growth could follow in Europe, US and Russia. It was a well-made match with the other young snacking upstart across the pond, Amplify Brands, which bought Tyrells only last year for a staggering £300m.
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