Cake maker Inter Link Foods is still targeting new companies to buy after three years of almost continuous expansion by acquisition.
Posting double-digit hikes in full-year sales and profit at the AIM-listed firm, chief executive Alwin Thompson said Inter Link was aiming for the number two spot in the UK cake market, which meant sales would have to double to around £100m. "We're in the top five at the moment, but there is no shortage of opportunities."
Acquisition targets were in the £10-25m region, he said.
Inter Link has snapped up malt bread giant Soreen, Cakes for the Connoisseur, the Creative Cake Company and William Lusty over the last three years, more than doubling its turnover.
Inter Link now supplies every major UK supermarket and a growing number of foodservice customers with own label and branded cakes and pastries. Novelty and celebration cakes were a particular opportunity, said Thompson. Pre-tax profit was up 11% to £3.7m on turnover up 12% to £51.4m in the year to April 30.
>>p16 Griffiths group MD

{{NEWS }}