Growth on the menu at food manufacturer
A food manufacturer which supplies premium retail and restaurant brands has developed a range of new products and won new clients, thanks to the support of Lloyds Bank.
Read time: 5 mins Added: 31/01/2019
Fairoak Foods in Surrey supplies a range of bespoke chilled products, from "free-from" vegan soups to slow-cooked ragù and stews to premium cooking and pour over sauces.
Through an agreed facility, the business is developing a range of new and innovative product lines and packaging options that have added seven new clients to its roster.
Founded in 2012, the company employs 45 staff and achieved a 97% increase in annual turnover to £3.8m from £1.9m last year.
Lloyds Bank's support follows a previous investment to enable the business to move to a new purpose-built BRC accredited facility in Woking last year.
"We're committed to producing the highest quality products for our clients, and welcoming seven new customers on board is a strong vote of confidence in our ability to deliver consistently for our clients."
Steve Elkins, managing director, Fairoak Foods
"Consumers are increasingly looking for more choices, with food trends driving demand for innovative and bespoke chilled options.
"Restaurants and retail brand owners are responding and requesting the bespoke premium quality manufacturing that we specialise in providing. We see this as a big opportunity and it is driving us to innovate within our product range."
Marcus Carolan, regional manager at Lloyds Bank Global Transaction Banking, said: "Fairoak Foods has enjoyed enormous growth over the past year, due to its high-quality products and targeted growth strategy."
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