Chaucer, the global producer of specialist food ingredients and products, is pleased to announce a 17% and 20% increase in revenue and operating EBITDA respectively following a year of investment, innovation and significant contract wins.
Following the investment in a new freeze dried facility in Portland, Oregon, which came on line in January 2015, the Group’s capacity to serve the US market was increased significantly and this provided the platform for growth in the US. In addition, supported by the team’s new product innovation initiatives which have expanded the Group’s Freeze Dried product offering, the Group secured a number of major new contracts in Europe and Asia with a number of major global food and beverage businesses.
Finding its position in the snacking market, the Bread division had a strong year, benefitting from new contracts won in the prior year which positioned the division in this new, complementary market.
Andy Ducker, CEO of Chaucer commented: “We are very pleased to be able to report strong growth across both revenue and operating EBITDA which is testament to the strategy put in place to drive growth across the global addressable market. It is clear that the investment completed at the end of 2014 has borne fruit and whilst I congratulate the team on delivering such strong results, we continue to focus on expanding our position in both new and existing geographies, maintaining our leading position in our markets and providing our customers with products of the highest quality. The market for the Group’s products is clear and growing with an evident consumer focus on both natural products, health and wellbeing, and we look forward to the opportunities that this provides us in the year ahead.”
Source: Chaucer Food Group