2 Sisters Food Group has announced a series of actions as part of its transformational strategy to turnaround the business, as outlined in its ‘Framework for Success’ revealed last August.
The food manufacturer is making further investments in its UK Poultry and Fox’s Biscuits businesses and will seek to reduce the number of its UK Poultry sites in order to increase the efficiency of its supply chains.
Ronald Kers, who replaced Ranjit Singh as CEO last year, said, “Our stated strategy is to become the number one poultry plus business in Europe and for several months now we have been engaged in a strategic review to facilitate our delivery on this, focussed on improving execution, reducing cost and building a better organisational culture.
“But there is now a pressing need to accelerate our turnaround so we can further increase the performance of our business. That’s why we’re keen to invest where we see potential growth: our UK Poultry business will benefit from this further investment and work which has already started to get Fox’s Biscuits in shape for the future ramps up to the next level with some major investment around automation, marketing and product innovation.
As part of an on-going review of the company’s loss-making sites, the company is proposing the potential closure of its UK Poultry business Witham processing site in Essex and has begun a consultation process with the view to redeploying staff to other sites in the group.
Kers said, “We’re all acutely aware that some of our plans, such as reducing our UK poultry footprint, brings uncertainty for colleagues, and it is with regret that we have to make such proposals. But the alternative of doing nothing and hoping for an upturn is not an option.”
In March, the group offloaded its Green Isle Brands frozen food business in an effort to strengthen its balance sheet.
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