Smartfoods has just moved to a bigger space. The New Zealand cereal maker is undergoing a rapid growth phase and is expected to quadruple its production capacity, in the attempt of pushing its revenue to $50 million from $15.7 million within the next five years.
As part of this expansion plan, the company moved to a 5,600 sqm bespoke premises on Carbine Road in Mt Wellington. The new factory cost $3 million and features a state-of-the-art baking facility. Smartfoods managing director, Justin Hall, described the move as an exciting milestone in the company’s strategy.
Since its first full year of trading, the business has expanded at a compounded annual rate of 36.5 percent, 25 percent in 2014 alone, with over a third of their revenue coming from exports. According to Hall, Smartfoods’ success could largely be explained with a growing interest toward healthier foods with natural ingredients. “More consumers are moving away from over-processed foods, both in New Zealand and in our key markets overseas, Australia and China,” he explained. “We are focused on developing foods that are good for the body, without sacrificing taste. We want eating well to be an enjoyable experience, not something that feels like a chore.”
The company currently manufactures Vogel’s breakfast foods and a Hillary-branded cereal range. After the launch of nine new products in July, including Smartfoods’ first bran cereal, the business still has a completely new brand in store for the near future.
