The Fabulous Bakin’ Boys is looking to double the size of the business by 2015 and increase its workforce by 25% in the next year.

The Oxfordshire-based company has announced its expansion plan for the next three years, with the aim to achieve sales targets of around £50m during that time period. It will be looking to develop new product lines, with the recruitment of a new head of innovation.

Gary Frank, managing director for The Fabulous Bakin’ Boys, said: "With the installation of our new automated line in the first quarter of 2012, we will be bringing a number of new and exciting products to market.

"Our market has been negatively affected by the recession and we have seen a definite trend towards home snacking and affordable treats during these tough times. Innovation is critical to our success and we will continue to drive this throughout our core, existing product lines, as well as continue our heavy investment in the development of new lines.

"There are no redundancy plans in place and we are confident in our growth strategies for 2012 and beyond.”

The Fabulous Bakin’ Boys manufactures 20,000 muffins and 25,000 flapjacks an hour at its Oxfordshire factory. This year, the company has seen a turnover of £20m, with sales rising 12.9% year-on-year.