Founder Graham Fisher said that the website, www.surplusfoodtimes.com, was set up in response to the E3bn European grey market .
It lists surplus grocery lines free, disguising brands at a manufacturer’s request, and charging subscribers £20 a month to check what’s on offer.
Fisher said Surplus Food Times had sold millions of pounds worth of stock in its 18 months of operation, before launching the service on the internet across Europe this month.
The company has 5,000
manufacturers and producers from across Europe on its database, he said, including big names such as Heinz, KP and John West.
Products typically sell at a 25% to 50% reduction on their wholesale value, depending on the category, said Fisher. The company will also run online auctions for manufacturers.
Surplus Food Times has five UK factories where residue products can be stripped and re-labelled to disguise brand identity, or tested and re-coded for a later sell-by date.
Fisher said: “It is a discreet way of disposing of surpluses, end of shelf life products and end of lines. It’s particularly popular with own label manufacturers. For example Asda would not want 10 crates of its own label turning up on a market stall.”
Surplus Food Times’ customers include institutions such as hospitals and prisons.