Snack and crisp manufacturer Calbee UK has filed its first consolidated accounts since the Calbee acquisition of Seabrook in October 2018 and the subsequent merger of the two businesses.
Calbee’s UK accounts to 31 December 2020 show a turnover of £43.7m with EBITDA of £5.8m. Like-for-like comparisons to the previous year of the consolidated Calbee and Seabrook businesses show a £2.9m increase in turnover and a £0.8m uplift in EBITDA.
The rise in revenue was said to have been driven by increased demand for the Seabrook brand, which is growing faster than the overall category at 25.8% year-on-year (Total Crisps, Snacks, Nuts and Popcorn +11.3% YOY).
Meanwhile, EBITDA growth was supported by synergies between the two businesses as part of an overall strategic review. This helped offset increased brand investment and rising supply chain costs.
As part of the strategic review, Calbee has invested £5m across its Bradford and Deeside factories. This has added to the company’s manufacturing capabilities, boosting capacity and opening up opportunities to diversify within the snacking category.
Daniel Woodwards, Group MD at Calbee UK, said: “The real credit for our performance goes to the team we have at Calbee UK. It’s been an incredibly hard time for all food manufacturers but I am particularly proud of how the team here has pulled together and responded to the multiple challenges we have faced.
“Our investment programme had three key simple aims – to increase the volumes our factories could produce, increase capabilities so that we can innovate within the snacking category and increase brand investment to create a rise in demand for our products.
“This has helped us deliver a significant uplift in Seabrook Crisps, with a return to TV advertising for the first time in almost 15 years and it’s enabled us to launch Harvest Snaps, a new plant-based brand that falls below the proposed government HFSS restrictions and can therefore still be merchandised in promotional display space when the new legislation comes into force next year.”
Woodwards concluded: “There’s no doubt the pandemic and Brexit has thrown up many challenges and continues to do so, from coping with fluctuations in demand, changing consumer habits, to supply chain issues but our strategic investments, a sound plan and a great team put us in a stronger position to compete.”
