Food wholesaler Monument Foods is to open another factory, two years after it plucked South Tyneside business Rae’s Bakery from potential closure.
The Sunderland company will set up another premises in the city to allow it to expand its product range and offer higher-end items such as pastries, cakes and savories.
It is also considering brand franchising as it bids to expand its footprint in the region over the next few years. Monument Foods director David Thompson said he was confident the investments would “result in a significant boost to the business within a relatively short timescaleâ€.
The company is eyeing up a 10% annual growth on its present turnover of £2.5m.