Fresca Group has celebrated an impressive year, posting a strong financial result for 2023/24, marking its third consecutive year of sales growth.
The fresh produce powerhouse, which consists of 14 diverse companies, including Thanet Earth, Mack, Primafruit, DGM Growers, and The Avocado Company, reported group sales of £523 million—a remarkable 25 per cent increase compared to the previous year.
Group CEO Martyn Fletcher described the year as “exciting,” highlighting their continued expansion in growing operations and joint ventures, as well as further investments in protected crops and cutting-edge quality and automation technologies.
In October 2023, Fresca Group deepened its commitment to Thanet Earth by acquiring the shares held by Rainbow Growers Group UK, making Fresca the sole owner of Thanet Earth Peppers. Fletcher acknowledged the significant impact of this acquisition on the year's results, stating, "While our overall sales have increased by 25 per cent, our like-for-like sales growth, excluding the acquisition, is still a healthy 3 per cent." Fletcher also noted an increase in EBITDA from £12.9 million to £13.4 million, owing to continued diligent cost management.
Fresca Group also made strides in other areas, with a £3 million investment in The Avocado Company’s new Avocado Centre of Excellence. This facility, which boosts both capacity and introduces state-of-the-art ripening technologies, is set to deliver a higher-quality product with a reduced environmental footprint.
In a strategic move into leafy salad production, Thanet Earth acquired an 8.25-acre nursery in Chichester, which, after redevelopment, will allow year-round production under 27,000 square metres of glass.
This year is also special for Fresca Group as it marks its 150th trading anniversary. Fletcher paid tribute to chairman Chris Mack, who has dedicated 45 years to the company. "Our business has been led by four generations of the Mack family,” Fletcher said. “Our success is a testament to the legacy and values established 150 years ago, values that continue to be at the core of our business today.” He went on to praise Mack’s contribution, noting his “attitude to doing the right thing” as being central to Fresca's mission of conducting business ethically and sustainably.
Adding to the celebrations, Fresca Group was honoured with a "150 Years in Business" award at this year's FPC Fresh Awards on 27 September, held at the Grosvenor House Hotel. This recognition highlights the company's longstanding commitment to excellence and innovation in the fresh produce industry.
Looking ahead, Fletcher acknowledged the challenges facing the fresh produce sector, from climate change to geopolitical uncertainties and new government regulations. However, he remained optimistic: “It is our job to manage change in all its forms. With our committed colleagues, we’ve demonstrated our resilience over the last 150 years, delivering great quality produce and exceptional service to our customers.”
Fresca Group’s journey over the past year is a testament to its adaptability and commitment to quality, ensuring its place as a leader in the fresh produce industry for another century and beyond.
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