Leading frozen foods specialist Fullers Foods International has joined forces with Marks & Spencer to revamp its core potato accompaniments range.
The agreement, valued at £12.5m and encompassing nine frozen potato lines and three chilled accompaniments, will give the frozen food specialist an enterprise value in excess of £250M by next year.
Further activity will see the range expanded next month with the launch of four new lines including triple cooked chips and onion rings in a light crispy beer batter.
In recent years there has been mounting pressure on the food industry to make supply chains more resilient and cost effective whilst catering to demands of consumers for an innovative, safe and wholesome approach to the food products they are being sold.
“With increasing focus on convenience and consumers buying into the benefits of frozen food, this is the perfect time for us to be joining forces with Marks & Spencer and strengthen stability within this market,” said Jason Fuller, joint CEO of Fullers Foods International with his brother Adam Fuller. “Marks & Spencer is highly complementary to our business and this partnership is in line with the continued work that we have been doing to further regulate and enhance the technical standards and quality of the industry from the farm right through to the plate.”
Fullers Foods will work with Marks & Spencer on a five year plan to review the full supply chain, from sourcing raw materials and management of potato varieties through to optimising production processes, product upgrades and packaging.
Carrie Joslin, M&S trading manager, said: “We look forward to working with Fullers to create some new and great tasting products for our customers.
“M&S is known for its food innovation and the four new products Fullers are creating for us are perfect examples of us listening to what newness customers want and making sure we deliver.”
This move is in line with Marks & Spencer’s continued focus to expand its food range and will sit alongside the newly launched frozen ready meals in store.