Food Concepts, owners of the Butterfield chain of bakeries, has disclosed plans to increase the capacity of its bakery from the current 70,000 loaves per day to 200,000 loaves in 2008.
The company's current bakery operation produces bread from eight bakeries including three franchise bakeries.
A statement on Wednesday quoted the founder and Chief Executive Officer, Food Concepts, Mr. Deji Akinyanju, as saying that the company had committed huge investments into acquisition of additional bakery equipment and properties which would enable it meet its target.
Food Concepts, which started operations in 2001, is the owner of four major food brands, which include a fast food franchise (Chicken Republic), pizza franchise(St Elmo's), bakery franchise (Butterfield), and an upscale fine-dining restaurant (Reeds Thai Restaurant)
The brands have become increasingly popular over the years.
According to Akinyanju, the company is focused on ensuring that Nigerians at all levels enjoy the experience of its food brands.
The company recently signed a N10bn securitization bond with UBA Global Markets. The fund is intended for Food Concepts aggressive expansion plans within Nigeria over the next five years. |
