The leap in turnover was down to the ever-rising popularity of home baking and eating at home, as well as the company's new sales force north of Birmingham, said MD Paul Hargreaves.
The 20,000 sq ft site in Reading would allow it to increase the number of year-round lines it carries from 1,600 to 2,250, he said. The company also planned to add an extra 200 lines for Christmas 2012.
"We have said 'no' to a lot of people over the last year, purely due to space and we can start reviewing those now," added Hargreaves.
A number of new products were scheduled for launch in September, he revealed. "Longer term, we may go into chilled as well as ambient, but that would be 18 months away."
Cotswold Fayre also planned to double its export business over the next two years to 10% of its turnover, he said.
It moved to its previous, 9,000 sq ft premises over three years ago after a number of moves. "If you said we'd be here 12 years ago, I'd have said 'no way'," said Hargreaves of the latest move. "For us it's a huge site."