The growing success of TMI Foods in the marketplace can
be attributed to product innovation as it meets the fast-changing needs of consumers.
The company has been able to secure its market growth through
product innovation initiatives, developing new cures and low fat/low salt cooked
bacon products.It has introduced apple
wood, cherry wood, pancetta and maple flavours, as well as reducing salt, preservatives
and additives to very low levels without being detrimental to traditional bacon
flavours.
In addition, its cooked roasted vegetables range – ready
to eat convenience products which can be re-heated to create a variety of meal solutions
- continues to grow in popularity with customers.
TMI Foods is capitalising on a rapidly changing marketplace
for cooked ingredients, not just in the
UKbut also mainland
Europe
where the development of restaurant chains is rapidly expanding.
In the
UK
, fast food currently accounts for 26% of the
UK
’s total ‘eating out’ market* – and the sector is forecast to continue to grow significantly.
In addition, the
UK
boasts the most developed sandwich market in
Europe
, with British consumers now eating more than 2 billion sandwiches a year.
TMI Foods’ current management bought the business
out of Prize Foods in 2003, since when it has made significant progress.Mike Collis of venture capitalists Aberdeen Asset Management said: “The new management
team have really stepped up to the challenge since we bought into the business in
2003.
“The
management have been highly effective in driving through operational efficiencies
as well as buying, operating and selling better.There is no doubt that, since the buyout, the business has transformed into
a highly effective operation.”
