Giles Foods has emphasised that it will continue to expand, after selling its Milton Keynes plant to Food Investment Group (FIG) last week. Managing director David Rixon told British Baker FIG has only purchased its quiche plant at Milton Keynes along with the existing quiche business, not the whole business.
Following two fires last year at Geest’s premises in Barton, and Hilliers Plymouth, Giles Foods saw a 150% growth in quiches, 100% growth in breads and a 20% growth in Danish
pastries over the last six months of last year, he said. “Given the huge pressure put on the management team following the fast expansion, it was decided to pull out of the quiche sector to concentrate on the fast-expanding speciality bread and sweet pastries sectors,”
he explained.
Giles Foods has retained a small ongoing shareholding in the new group. The company is now fully focused on expanding the remaining operations further, with a projected turnover of £15 million this year, he said. It will focus on the key areas of specialty and added-value breads, pastries and cakes.
Giles Foods directors David Marx, David Boon, Cindy Lester and Andy Willis will continue running the independent company from three sites in Milton Keynes and Warminster. And a new Giles Foods test bakery and innovation centre is under construction, Mr Rixon added.
Giles Foods has invested over £5m during the last three years in its bread operation.
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