Chocolate wines and easy-open bottles are part of Broadland Wineries’ £250m sales bid
- Credit: © ARCHANT NORFOLK PHOTOGRAPHIC
Chocolate wines, easy-open bottles and fruit infusions are key to a Norfolk wine producer's ambitious strategy to grow sales to £250m by 2025.
Broadland Wineries, which exports wines across the world from its bottling plant and winery in Cawston, wants to increase its UK market share and grow business in the US.
It focuses on wine bought by shoppers from between £6 and £6.50, which managing director Mark Lansley said accounted for 90pc of all wine bought in the UK.
The firm, which supplies shops such as Aldi, Asda and Sainsbury's, saw turnover reach more than £51m for the year ending March 31, up 20pc from £42m the year before.
And Mr Lansley said the firm was already 15pc up on last year, on track to reach £60m for the first time and hurtling towards its ambitious 2025 goal.
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'I would like to take the UK up to £100m within 10 years, and build the same size business again in the US,' he said. 'The rest will come from Scandinavia.'
The EDP Top 100 firm, which collapsed into administration in 2006, pulled back from the brink and has now diversified towards importing wine from Australia, Chile and South Africa, as well as creating its own wine from imported grapes.
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The latest accounts on Companies House show pre-tax profits for the year ending March 31 fell from £1.77m to £1.68m, due to a £300,000 investment in research and staffing.
Much of the wine is brought into the UK in 24,000-litre bags at Felixstowe, which Mr Lansley said helped the firm keep prices low due to its close proximity.
And in an effort to attract younger drinkers, Broadland Wineries, which was established in 1965, has diversified into flavoured wine, introducing a range of chocolate, fruit and mulled wine varieties.
Mr Lansley said: 'We have seen quite a growth in fruit infused wines. It's a generational change.
'People in their 20s are often looking for something a little fruitier and a bit sweeter and as their pallet matures they start going to something like an Australian Shiraz.
'We are trying to cover all the age groups in the main stream market.'
Other plans include easy-open bottles for older people, and bringing in technologies from outside the wine industry.
Broadland Wineries, a new entrant in the EDP Top 100, was a winner at this year's EDP Business Awards in the Top 100 Accelerator category.
Does your firm have major expansion plans? Call business writer Sabah Meddings on 01603 772879 or email email@example.com