Real Good Food has revealed several strategic plans for its brands following its move to reposition its business along three pillar markets – cake decoration, food ingredients and premium bakery.
In its cake decoration arm, the company has revealed that it intends to create a global range under the Renshaw brand, becoming a market and brand-led player rather than just a manufacturer of products for other people.
The move follows the company’s recognition of “increased potential for tackling the cake decoration market globally”. To provide additional focus for this initiative it has renamed its European business Renshaw Europe and has set up a US company, Renshaw US Inc. It added that it saw similar potential in Australasia and elsewhere.
The company acknowledged that there might be a need to tailor locally either for reasons of different legislation or local tastes, but the essential market positioning of the Renshaw brands and products will be the same, it said. The move follows the successful integration of Rainbow Dust Colours, acquired in January 2015 into the cake decoration sector.
Meanwhile, the company is also planning to pursue a branded initiative in its premium bakery division, with a plan to produce a “small range of branded premium indulgent sweet treats” from its subsidiary Haydens Bakery in the coming year. The company, which acquired Devon-based frozen desserts supplier Chantilly Patisserie for £1.75m in February this year, said this was the type of business it was keen to acquire and build on. “It operates in a small but fast-growing market niche – high-quality, out-of-home desserts,” said the firm. And it said it had identified opportunities for cross-selling – for Haydens within foodservice and Chantilly within retail – to be pursued.
Executive chairman Pieter Totté said: “Our objective will be to build scale and strategic positions in each of these [pillar markets] through organic growth, targeted investment and bolt-on acquisitions as appropriate. Each market has different characteristics and will generate different returns and our plans will reflect this.”
The company’s strategic review and restructure follows the disposal of its sugar arm Napier Brown last year.