Savoury pastry brand Higgidy has announced a new £10m investment to help expand its home in Shoreham-by-Sea following Samworth Brothers increasing its stake in the business.
The investment follows increased demand for the brand’s products, fuelled by consumers’ changing eating habits and the rise in flexitarian and vegan diets over the last 12 months. Higgidy revealed that it had attracted a further half a million consumers through its programme of veggie and plant-based NPD.
The Higgidy brand has grown consistently over the last 10 years with a CAGR of over 15%. It has recently joined the club of chilled food brands that have a retail value in excess of £50M. Higgidy is planning to double the size of the brand in the next five years with the initial stage of capital investment unlocking capacity which is expected to take the brand close to £66m RSV.
The planned investment into ‘The Higgidy Village’ will be used to purchase new equipment, expand the footprint of the site, and upgrade its current office and shared spaces.
Mark Campbell, Chair of Higgidy, said: “We are very proud to be part of the Samworth family and know that the values that both businesses have mean that we will continue to flourish. The Higgidy leadership team have created a compelling strategy for the next five years and the investment and support from Samworth Brothers means we can continue to build a strong culture, whilst keeping our entrepreneurial roots intact.”
Flor Healy, Samworth Brothers CEO, added: “Higgidy’s positioning means they are extremely well placed to meet consumer trends. With Higgidy becoming a B-Corp last year this reinforces the synergies that already existed with Samworth Brothers also being a truly values led and purposeful business.”
