Paul Hollywood range is an extension of the St Pierre Groupe product range, and they are to buy a piece of US food to go market and are to expand in to the Far East after securing investment.
St Pierre Group formally known as Carrs Foods are to launch their first food-to-go range in the US in a bid to boost their fast growing US business.
The US part of the business generated half of the £69m sales in 2018 and is set for rapid growth as the, “massive” food-to-go sector offers significant opportunities, said Jeremy Gilboy the founder.
Speaking to the Press Association Gilboy said, “The food-to-go market in America is just so massive, there’s so many convenience stores and petrol forecourts in the US.”
The UK group trades as Baker Street and includes Hollywood’s range across 20,000 stores in Britain, and more products of Hollywood’s will be added over the next few weeks.
Gilboy has intention of tapping into the Far East market as St Pierre are increasingly expanding their international footprint.
St Pierre had a 40% surge in underlying earnings in 2018 to £7m, with forecasts of doubling their turnover to £150m over the next three years.
The company has raised £6.7m from Lloyds Bank and the Business Growth Fund (BGF).