Cook is planning to add 150 new concessions to other retailers’ stores this year, despite challenging market conditions.
The growth will see its total number of retailer partnerships rise past the 950 mark over the course of the year.
The company said it was determined to drive growth whilst maintaining positive relationships with partners, to ensure all parties emerge from a difficult trading period in a stronger position.
“Our partnership with independent retailers has provided the backbone of our growth over the last six years. Back in 2015 we only had 150 partners and we now have over 800,” said Cook co-CEO Ed Perry.
“The natural synergy Cook has with independent retail means it is one of those rare and happy circumstances where it works equally well for both parties. It’s exciting there’s so much more room to grow, even in these challenging times.”
Cook’s concession gross sales are estimated to be £54m this year, equating to 40% of the business’ total volume.
It comes as the company announced it was temporarily reducing margins for retailers by 1.85% from 18 July, as a result of significant inflationary pressures.
Cook’s combined fuel and raw ingredient costs have increased by 13% in the past nine months, as the war in Ukraine impacts global supply chains.
The company had already implemented a 5% recommended retail price increase in order to cover some of these spiralling costs.
However, the business was keen to stress that margins would be reinstated once the current challenging trading conditions have subsided.
“We are, and have always been, a long-term business. So, what we’re seeking to do is set us all up to emerge from this difficult period in an even stronger position,” said Perry.
“That means not taking consumers for granted with continuous price rises, challenging ourselves to be as efficient and creative as we possibly can be, and when ingredient inflation exceeds our ability to digest it, making a small adjustment to the margin we offer partners as a last resort.
“We’re temporarily reducing our partners’ margin slightly, but we’re taking the biggest share of the burden ourselves.”