Prima Bakeries Group, which incorporates Redruth-based Prima Bakeries and St Columb-based Cornish Premier Pasties, has announced its purchase of Cornish biscuit maker Furniss of Cornwall, for an undisclosed sum. Furniss of Cornwall will now operate under the Prima Bakeries Group with all staff joining the Employee Ownership Trust.
Commenting on the acquisition, Mark Norton, Managing Director of Prima Bakeries Group said: “This is an incredibly exciting time for us, as we bring another iconic Cornish food brand under our wing. There is a lot of synergy between the businesses, as well as complementary product ranges, so our responsibility is to now build on the brilliant work that the previous owners and directors have done, to further grow the business. Looking forward, we will be investing in the production facilities on-site in Redruth, to support Furniss to reach its full potential.”
The acquisition comes as Prima Bakeries Group announces record years for both Cornish Premier Pasties and Prima Bakeries, with sales growing by £2 million year-on-year and the turnover of the Group expected to reach £15 million per annum, by the end of 2024.
Mark added: “I’m very proud of what we’re doing within the Group. The combination of the purchase of Furniss and having a record-breaking year is a moment that I want to dedicate to our hard-working team, who have been integral to our success. Earlier in the year we announced the Group’s transition to an Employee Ownership Trust, so it feels extra special to report these figures following the end of our financial year. It’s proof that we’re supporting both our local people and the wider economy, whilst also reinforcing Prima Bakeries Group’s position of a truly Cornish company as we continue to go from strength to strength.”
As well as the purchase of Furniss of Cornwall, the Group will be opening a new 20,000 sq. ft. production facility in St Columb later in the year, doubling production capacity for their award-winning pasties.
Furniss Of Cornwall was started by John Cooper Furniss in 1886 and is best known for being the only company in the world licensed to make The Original Cornish Fairing™. It operates from Redruth and employs 30 full-time staff. The deal was supported by Mark Champion of Exeter-based ISCA Ventures, corporate finance specialists and Tim Jackman of Plymouth-based solicitors Whyte Jackman.
Find out more through the Prima Bakeries website.
