Innovative Bites appoints non-exec chairman as part of continued growth
The announcement is part of the company’s plans to expand the business. It bought Hancocks, a UK supplier of wholesale sweets, from H2 Equity Partners and management last year as well as acquiring Bonds of London.
Strategy for growth
It also moved into new 105,000 sq. ft premises, and has expanded its product portfolio.
Rose will work with the management team on driving an exceptional level of service to support customers in growing their businesses.
"Richard's appointment is a key move in our on-going business strategy to grow the IB Group,” said Wayne Beedle, CEO, IB Group.
“Richard brings within him an impressive resume of achievements. He has an exceptional track record of developing and supporting management teams to build and execute a customer focused strategy for growth; so we are thrilled to welcome him on board."
As well as Booker, Rose was previously chairman of AO World, online electrical goods retailer.
Double-digit growth
Vishal Madhu, founder, Innovative Bites, said the company saw a 25% increase in sales last year with double-digit growth across four; ASDA, Sainsbury's, Tesco and Waitrose, of the Big 5 supermarkets in the UK (Aldi, ASDA, Sainsbury's, Tesco and Waitrose).
"We are delighted to see such substantial growth and we continue to invest in our core confectionery business, which includes sweets such as Twinkies and Baking Buddy Mega Marshmallows, finding new on-trend opportunities to expand our product portfolio,” Madhu said at the time.
“Our acquisition of Hancocks aligns with our aspirations to significantly grow Innovative Bites' scale in the UK and across Europe. Our businesses are highly complementary and differentiated in our products, geography and approach, so we are hugely excited about our combined potential."
The IB Group, which includes Hancocks, Bobby's and Bonds of London, has more than 55,000 direct customers and a 150-plus strong sales team that distributes over 5,000 confectionery products and other snacks and drinks.
It recently announced plans to distribute Chocolate Peanut Butter flavor Twinkies in the UK and Europe, produced by Hostess Brands.
The sweet sponge cake is already available in original and banana, with the latest addition on sale in Sainsbury’s retail stores across the UK in packs of 10 (RRP £4).
