Prima Bakeries Group has purchased Redruth-based biscuit specialist Furniss of Cornwall for an undisclosed sum.
Furniss will now operate under Prima with all 30 staff joining its Employee Ownership Trust (EOT), which it introduced earlier this year.
The business also incorporates sweet and savoury product supplier Prima Bakeries, based around 11 miles away on the other side of Redruth, as well as Cornish Premier Pasties over in St Columb. Both brands have announced record years with total sales growing by £2 million year-on-year, noted the company.
Following its latest acquisition, Prima Bakeries Group said it is expecting turnover to reach £15 million by the end of 2024. It is also opening a new 20,000 sq. ft. production facility in St Columb later in the year, set to double capacity for their pasties, after investing more than £135,000 in 2023 in solar power.
“This is an incredibly exciting time for us, as we bring another iconic Cornish food brand under our wing,” commented Mark Norton, managing director of Prima Bakeries Group.
“There is a lot of synergy between the businesses, as well as complementary product ranges, so our responsibility is to now build on the brilliant work that the previous owners and directors have done, to further grow the business. Looking forward, we will be investing in the production facilities on-site in Redruth, to support Furniss to reach its full potential.”
Norton noted that, following the company’s transition to an EOT earlier in the year, it felt “extra special” to report the record-breaking figures, which he dedicated to his hard-working team saying they had been integral to its success. “It’s proof that we’re supporting both our local people and the wider economy, whilst also reinforcing Prima Bakeries Group’s position of a truly Cornish company as we continue to go from strength to strength,” he added.
Furniss Of Cornwall was started by John Cooper Furniss in 1886 and remains the sole UK company licensed to make Original Cornish Fairings, a type of traditional ginger biscuit. Other lines among its luxury biscuit range are shortbread with various flavoured inclusions, gingerbread, dipped cookies, oat biscuits, and Cheddar biscuits.
The Prima deal was supported by Mark Champion of Exeter-based ISCA Ventures, corporate finance specialists, and Tim Jackman of Plymouth-based solicitors Whyte Jackman.
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