Pipers Crisps toasted the return of the pub-going public as sales increased almost a quarter, to a record high.
The North Lincolnshire premium potato snack producer, now part of the PepsiCo empire, saw sales lift from £10.4 million to £12.9 million as lockdowns ended in 2021.
And an internal sale of intellectual property rights and customer lists for £22 million turned round a £1.6 million loss from 2020 in spectacular fashion while cafes and delis opened their doors. Pipers Crisps are also now stocked by the likes of Sainsbury’s, Waitrose and Ocado.
Read more: Brexit, logistics and lockdown woes lead grocery exporter to loss
Sales clocked up last year toppled the 12 months before the global food and drinks giant swooped, and it was the UK market where it excelled. British purchases were up from £9.1 million to £12.6 million, while overseas sales fell back considerably.
Group-wide synergies are also playing out, for while production staff increased by 10 to 37 at the Elsham Wold base, total staff numbers were down from 82 to 71 - with 19 lost in administration. Pre-pandemic it had been an employer of more than 100.
In the strategic report accompanying the results, finance director Mehmet Celebi said: “Turnover increased by 23.2 per cent, driven by an increase in demand in the ‘away from home’ sector as Covid-19 restrictions were lifted.
“Operating profit increased to a profit of £21.5 million, driven primarily by the sale of intellectual property rights and customer list during the year to a fellow PepsiCo Inc. subsidiary.”
He said the business, in the same stable as Walkers and Doritos, was “well placed to navigate and mitigate through a period of both continued uncertainty and significant change”. Dividends totalling £14.2 million were paid.
Pipers was set up in 2004 by entrepreneurs with farming pedigree – Simon Herring, James Sweeting and Alex Albone. It was seen as a new route to market for Lincolnshire potatoes, with ingredient provenance at the core of the business’ ethos. They stepped down on completion of the deal, in February 2019.
As part of the integration, in March the company transferred all trade and assets into fellow PepsiCo subsidiaries.
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