UK snacks maker Metcalfe's Food Co. is to divide in two to support what its owners says is the "fast growth" of the company's two flagship brands.
On 1 June, the business will split to form Itsu Grocery Ltd, which will focus on Metcalfe's range of Asian food products, and Metcalfe's Skinny Ltd, which will sell the group's line of snacks.
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Julian Metcalfe, the founder of UK-based sandwich store group Pret a Manger and Asian-inspired fast food and restaurant chain Itsu, set up Metcalfe's Food Co. in 2009. He wanted to sell popcorn and healthier snacks to the foodservice outlets.
A year later, food entrepreneur and former investment banker Robert Jakobi joined the business as MD.
The two men will remain owners of both Itsu Grocery and Metcalfe's Skinny.
Jakobi said: "It was important for us to build a long lasting structure so we can satisfy the increasing demand for our current lines and our exciting NPD plans. We have created two distinct teams to run each brand. I can’t wait to get cracking and see us reach the potential I know we have."
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By GlobalDataTwo Metcalfe's Food Co. employees have been named managing directors of the two new businesses. Claudia Santagada will become MD of Itsu Grocery. Metcalfe's sales director Max Rees has been appointed MD of Metcalfe’s Skinny.
Metcalfe said: "We have grown at such a incredible rate. It's an incredibly exciting time for us."
The privately-owned business does not disclose financial figures. However, it said sales had grown "more than 200% over the last three years with sales at GBP9.1m as of 31 May 2014".
