Cornish Bakery eyes rapid expansion

The Cornish Bakery has expansion plans
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The Cornish Bakery is embarking on an expansion drive that could see it adding up to 20 sites over the next two years.

Company founder Steve Grocutt told British Baker he had secured funding that would enable the company to “open a new site every one or two months for the foreseeable future”.

The company, which currently has 33 sites, has three openings in the pipeline, with one in Tintagel, Cornwall next week, followed by Sidmouth, Devon in January, and another in Cornwall in February.

Grocutt said the first acquisitions were in its home territory, but it would be looking for outlets anywhere south of Birmingham, where it has six sites at the National Exhibition Centre (NEC).

He said the expansion had been driven by the successful completion of the re-branding of the company, which was formerly known as Pasty Presto.Like-for-like sales increased by 7% in 2014 and were up a further 10% at the financial year-end in 2015.

He added: “Every single branch was in growth and that was what enabled us to raise capital. We have sent out a brochure to major landlords and we have some meetings with plcs arranged in January.”

The brochure said potential sites included high-end tourist locations, quality high streets, shopping centres, exhibition spaces and sports stadia.

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