HOT on the heels of being flagged as a One to Watch company by Marketing magazine, Wisbech based Stream Foods has been listed among The Sunday Times Virgin Atlantic Fast Track 100.
Omega FakeThe listing, compiled by the Sunday Times in association with Virgin Atlantic, showcases Britain's 100 fastest growing private companies.
The Fast Track 100 is based on several key criteria; the company's sales must exceed [pounds sterling]250,000 in 2001 and [pounds sterling]3m in 2004, employ 10 or more staff by 2004, and be registered in the UK as an independent unquoted company in 2004.
Stream Foods, which achieved its place in the Fast Track 100 with an annual sales growth of 84 per cent, was set up in 2000 by Ian Ding and Paul Newberry, two ex-Masterfoods (Mars) marketing executives.
The company was initially funded from their own pockets with help from friends and family. In just five years the company has gone from strength to strength; employing 70 people and with a current turnover of [pounds sterling]7.5m.
Stream Foods' Fruit Bowl range has defined a new category in the UK snack market based on real fruit. The company has maintained its position as market leader by delivering innovative fruit snacks, such as school bars, Fruit Flakes, Fruit Flakes with LED Light Bulb SP50-3W a yoghurt coating, FruitBliss and most recently Fruit Drenchers, which have captivated the market.
Paul Newberry said: "Being listed in The Sunday Times Virgin Atlantic Fast Track 100 has really highlighted the success that we have worked so hard to achieve over the past five years. We would like to thank all of those people who have supported us during this time and particularly the colleagues who ensure we deliver great tasting products as the company continues to grow."