Finsbury Food Group PLC Board Changes (8418J)
July 03 2017 - 1:00AM
UK Regulatory
TIDMFIF
RNS Number : 8418J
Finsbury Food Group PLC
03 July 2017
Date: 03 July 2017
On behalf Finsbury Food Group Plc ('Finsbury',
of: 'the Company' or 'the Group')
Embargoed 0700hrs
until:
Finsbury Food Group Plc
Board Changes
Finsbury Food Group Plc (AIM: FIF), a leading UK manufacturer of
cake, bread and morning goods for both the retail and foodservice
channels, is pleased to announce the appointment of Bob Beveridge
FCA as a Non-Executive Director with effect from 1 July 2017.
Mr Beveridge, aged 61, has wide ranging public company
experience and over 30 years as a financial and strategic leader of
blue chip companies. Following his tenure at McBride plc, Europe's
leading Private Label Manufacturer of Household and Personal Care,
where as Group Financial Director he led a series of earnings
accretive acquisitions, Mr Beveridge has gone on to hold numerous
non-executive roles, supporting and advising growth companies.
Mr Beveridge was also formerly Group Finance Director at both
Cable & Wireless Communications plc and Marlborough Stirling
plc.
Peter Baker, Non-Executive Chairman of Finsbury Food Group Plc,
commented;
""On behalf of the Board and the wider Group, I would like to
welcome Bob to the business. Our Board is comprised of experts in
their fields and Bob's appointment is a strong addition and one
that complements our current strengths. The recent reshaping of the
Board shows our commitment to having the expertise and capabilities
to help build upon our strong market position, drive growth and
continue to deliver shareholder value."
Further information on Bob Beveridge
The following information is disclosed pursuant to Schedule 2(g)
of the AIM Rules for Companies:
Robert James Beveridge, aged 61, has held the following
directorships or partnerships in the past five years:
Current
Brady plc
Inspiration Healthcare plc
Volex plc
Past
InternetQ plc
Hampshire Hospitals NHS Foundation Trust
There is no further information to be disclosed pursuant to
Schedule 2(g) of the AIM Rules for Companies.
For further information:
Finsbury Food Group Plc www.finsburyfoods.co.uk
John Duffy (Chief Executive) 029 20 357 500
Stephen Boyd (Finance Director)
Cenkos Securities plc
Bobbie Hilliam (Corporate
Finance)
Redleaf Communications finsbury@redleafpr.com
Rebecca Sanders-Hewett 020 7382 4730
David Ison
Sam Modlin
Notes to Editors:
-- Finsbury Food Group Plc (AIM: FIF) is a leading UK
manufacturer of cake and bread bakery goods, supplying a broad
range of blue chip customers within both the grocery retail and
'out of home eating' foodservice sectors including major multiples
and leading foodservice providers.
-- Following the acquisition of the Fletchers Group of bakeries,
the Company is one of the largest speciality bakery groups in the
UK with annualised sales in 2016 exceeding GBP300 million.
-- The Company's bakery product range is comprehensive and includes:
- Large premium and celebration cakes.
- Small snacking cake formats such as cake slices and bites.
- Artisan, healthy lifestyle and organic breads through to
rolls, muffins (sweet and savoury) and morning pastries, all of
which are available both fresh and frozen dependent on customer
channel requirements.
-- The Company is now the second largest manufacturer of ambient
packaged cake (excluding In Store Bakery (ISB)) in the UK, a market
valued at over GBP945m (Source Symphony IRI, 52 w/e 31st December
2016). The annual retail bread and morning goods market has a value
of GBP3.7 billion (source Kantar Worldpanel 52 weeks to 1 January
2017). The UK foodservice bread and morning goods bakery sector is
worth approximately GBP800 million per annum, 70 per cent of which
is in morning goods. The UK foodservice cake and sweet treat bakery
sector is worth approximately GBP600m per annum.
-- The Company comprises a UK Bakery division and an Overseas division:
- UK Bakery has manufacturing sites in Cardiff, East Kilbride,
Hamilton, Twechar, Salisbury, Sheffield, London and Manchester.
- The overseas sector comprise, the Company's 50% owned Company
Lightbody Stretz Ltd, which supplies and distributes the Group's UK
manufactured products and third party products, primarily to
Europe.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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