The company has revealed the ambitious target as it embarks on a £9m relaunch of its core sauces range from the end of this month.
Head of marketing Rob Davenport refused to be drawn on what products could be in the pipeline, but he said the company had in particular identified ‘lighter eating’ as a major target with the first new products planned for February.
He also admitted the company was looking at putting the Sharwood’s brand into new areas such as the lunchbox market and afternoon snacking.
A new ‘light’ range of sauces, the brand’s first, is also being considered. Davenport said: “We will share our ideas with the trade when we are ready but we believe that by targeting certain areas we can deliver an incremental value of £100m to this £270m market over the next three years.”
He said Sharwood’s, which he claimed was currently a £80m-a-year brand, would expect a 40% cut of that growth.
Meanwhile, the company’s revamped range of sauces will hit shelves first in Tesco at the end of this month with new labels showing the Sharwood’s name at the centre.
New neck labels also reveal the type of sauce, while three new noodle recipe kits join the line-up.
TV advertising to support the relaunch breaks in September.