Little Moons, the UK-based mochi ice cream desserts business, is poised to open a second factory with its first plant outside of London.
The business, set up in 2010 by brother and sister Howard and Vivien Wong, has invested an undisclosed amount in the site in Kettering in the English county of Northamptonshire. The 50,000-square-foot plant is due to start production in the first quarter of next year.
Little Moons opened a factory in Park Royal, north London, in 2020. The business has its headquarters in Farringdon, also in the capital.
The company has since launched its ice cream wrapped in mochi dough treats in Australia, with retail sales reaching A$10m ($6.4m) from the roll out last autumn, according to a statement.
Little Moons booked a group turnover of £64.5m ($78.6m) in the 18 months recorded to 30 December 2022, compared to £25.5m in the 12 months to 30 June 2021, also
In the UK, Little Moons supplies all the major supermarkets, including Tesco, Sainsbury’s and Morrisons, and has also expanded further afield. Its products are distributed via retailers in France, Germany, Austria, Switzerland, Denmark, Italy, Norway, Spain and Croatia.
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New Zealand is set to be added to the list this autumn.
Little Moons sold a minority interest in the business to US-based private-equity firm L Catterton last year, the amount and size of which were undisclosed.
Accounts filed with Companies House in London showed the business generated an adjusted EBITDA of £8.5m in the 18 months through December, increasing from £6.9m in the prior 12 months.
Net profit, however, dwindled to £1.5m from £4.8m.
“The UK and European ice-cream markets are very competitive and the trading environment places pressure on suppliers to deliver high-quality products at competitive prices,” the filing read.
“The business is executing a strategic programme, which includes building a new factory to expand our production capacity to satisfy growing consumer demand.
“The business will continue to focus on sales growth through deepening distribution with existing retail partners in grocery and out-of-home and expanding our presence in international markets.”