Fresh food brand Glorious!, which is owned by North Lincolnshire-based food manufacturer TSC Foods, has hit the £10 million annual turnover mark for the first time as the business celebrates its fifth birthday.
Glorious! was launched by TSC, which is backed by private equity house Key Capital Partners, in 2008. Products under the brand include fresh soups, sauces and dips, which are stocked by Morrisons, Asda and Sainsbury’s among others. Glorious! Has claimed 10 per cent market share in the fresh soups market.
The success of the Glorious! label mirrors that of parent company TSC. Since KCP – which has an office n Leeds – backed a management buy-out of the business in July 2009, turnover has grown from £35 million to £47 million.
Peter Armitage, investment partner at KCP and director of TSC Foods, said:
The Glorious! food brand has consistently increased market share every year so it is no surprise that it now has a turnover of £10 million. I am looking forward to the next £10 million.
TSC has invested heavily in both the development of new products and manufacturing equipment to ensure they develop and sell high-quality innovative soups as well as sauces and desserts.. Its success is largely due to the strong consumer demand for fresh products made in the UK.
David Bondi, managing director of TSC Foods, said:
We’re thrilled to reach this milestone with such success. We use market share to gauge how consumers react to our brand and the fact that our market share has grown continually since Glorious! launched indicates that we are exceeding customers’ expectations.
“We are shedding the ‘wintry’ image that some soup brands have to ensure our fresh soups are at the forefront of consumers’ minds all year round by using lighter, more delicate flavours.