Higgidy is to splash £10m on expanding and developing its Shoreham HQ, with the goal of doubling its revenue by 2027.
The upmarket savoury pastries brand intends to add new production equipment, expand the footprint of the site and upgrade its office spaces.
It also plans to make 75% of its product range veggie or vegan by the end of 2022.
The investment followed increased demand for the brand’s products, fuelled by “consumers’ changing eating habits and the rise in flexitarian and vegan diets over the last 12 months” said Higgidy.
It had attracted “a further half a million consumers” over the past year through an “exciting programme of innovative veggie and plant-based NPD” the brand added.
It grew sales of its posh pastries last year by £4.8m, taking its value to £37.4m [NielsenIQ 52 w/e 11 September 2021].
The £10m upgrade would help Higgidy double in size over the next five years, taking its retail sales value “close to £66m” it added.
The planned investment comes as a result of Samworth Brothers increasing its stake in Higgidy in December 2020, to become the pastry brand’s majority shareholder.
Higgidy’s founders would retain a minority stake in the business and there would be no change to the senior leadership team, a spokeswoman for the brand confirmed.
Chairman Mark Campbell said: “We are very proud to be part of the Samworth family and know that the values that both businesses have mean that we will continue to flourish.”
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