A brand relaunch and investment in capacity helped premium snacking player Burts grow sales and profits last year ahead of its sale to Europe Snacks.
The handmade crisp manufacturer posted a 29% jump in sales in 2022 to £87.6m, driven by both its branded and private label business and passing through price increases to protect margins.
Operating profits more than doubled to £4.8m from £2.3m, while pre-tax profits were up to £3.6m from £1.2m.
The company said the relaunch of the Burts brand “opened up new market opportunities”, while it was able to react to strong growth in own label by providing co-manufacturing partners with additional volumes.
While it was “obliged” to increase pricing, it said these actions were mitigated by cost reduction initiatives and a tight control of overheads, while it benefitted from significant investment in its production capabilities over recent years
“Burts has continued to enjoy topline growth through investment through investment into capacity at both its manufacturing sites,” said CEO Dave McNulty.
“The growth in its own label business reflects the trend towards value, but this has been complemented with exceptional growth in the Burts brand following its re-design and re-positioning.”
Burts was snapped up by French own label manufacturer Europe Snacks in February for anundisclosed sum to bolster the group’s push into the UK.
Europe Snacks, which also owns UK private label group Kolak Snack Foods, has plans to invest in boosting capacity at the factories in Plymouth and Leicester, and in ramping up innovation.