Real Good Food PLC Real Good Food plc To Target Growth in Americas
19 September 2016 - 4:01PM
RNS Non-Regulatory
TIDMRGD
Real Good Food PLC
19 September 2016
Strictly embargoed until: 07.00 19 September 2016
Real Good Food plc
("the Company" or "Real Good Food")
FORMATION OF RENSHAW INC. TO TARGET FURTHER GROWTH IN THE
AMERICAS
REBRANDING OF REAL GOOD FOOD EUROPE TO RENSHAW EUROPE
Real Good Food plc (AIM: RGD) today announces that it has
created a new 100% wholly owned subsidiary business, Renshaw US
Inc., which will trade as Renshaw Americas ("Renshaw Americas") to
concentrate on further growing its cake decorating export business
across the Americas. The Company also announces that it has
rebranded its Real Good Food Europe division as Renshaw Europe
("Renshaw Europe").
Renshaw Americas
Renshaw Americas has secured five year lease on a 18750 sq ft.
state of the art warehousing facility in Rockaway, New Jersey.
Rockaway has been chosen as it is an ideal logistical location for
onward distribution and its close proximity to the port of
Newark.
Renshaw Americas will initially employ a commercial team of four
and will act as a sales and distribution hub to sell Cake
Decorating products from the Real Good Food stable initially across
the USA and Canada and eventually on a wider scale across the rest
of the Americas.
Important products will include sugar paste, coverings and
frostings from Renshaw in the UK and the full range of Rainbow Dust
Colours products.
Commenting on the announcement Pieter Totté, Executive Chairman
Real Good Food said:
"The USA and Canada are very important markets for our Cake
Decorating business. It already accounts for around 10% of our
overall export sales and by establishing a permanent presence we
believe there is scope for future growth and improved margins with
operating efficiencies and better supply chain management. We can
now ship in bulk quantity directly to a storage and distribution
facility in an optimal location for onward distribution. This leads
to manufacturing efficiencies in our factories in the UK and
ultimately better customer service and improved margins."
"With an established presence we also see the opportunity to
broaden our customer base and in particular we are excited about
the growth opportunity for sugar paste, as opposed to soft icing,
as this market is largely underdeveloped across the Americas."
Renshaw Europe
In a separate move, Real Good Food has also rebranded its Real
Good Food Europe division as Renshaw Europe, to reflect the
business's focus on cake decoration products Renshaw Europe is
based in Brussels and acts as a sales and marketing, distribution,
and logistics centre for a range of products across Europe. The
multi-lingual customer services and sales team will offer the full
range of Renshaw and Rainbow Dust Colours products as part of a
strategy to build these brands globally. It also intends to offer
some innovative products tailored to local needs.
Commenting on the rebranding Mr Totté said:
"A common theme across all the companies of the group is a
transformation from being a manufacturing led to a market led
businesses. Understanding the markets in which we operate and
meeting customer requirements with quality products and excellent
service is a key driver for our future development. The rebranding
is a manifestation of our intention to grow the Renshaw brand
internationally."
*-ends-*
About Real Good Food plc
Real Good Food plc is a diversified food business serving a
number of market sectors including retail, manufacturing,
wholesale, foodservice and export. The Company focuses on three
main markets: cake decoration (Renshaw, Rainbow Dust Colours), food
ingredients (Garrett Ingredients and R&W Scott) and premium
bakery (Haydens).
ENQUIRIES:
Real Good Food plc Tel: 020 3857
3900
Pieter Totté, Executive
Chairman
David Newman, Finance Director
Andrew Brown, Marketing
Director
finnCap Limited (Nomad Tel: 020 7220
and Joint Broker) 0500
Matt Goode/Grant Bergman
(Corporate Finance)
Time Redfern (Corporate
Broking)
Daniel Stewart and Company Tel: 020 7776
Plc (Joint Broker) 6550
David Lawman
Jonathon Webb
Belvedere Communications Tel: 020 3567
(PR) 0510
John West
Kim van Beeck
This information is provided by RNS
The company news service from the London Stock Exchange
END
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