Specialist surplus food recycler SugaRich has earned a place on The London Stock Exchange’s esteemed ‘1000 Companies to Inspire Britain’ list.
This landmark project sought to identify SMEs that have the potential to transform the UK’s economic landscape, as it looks to recovery. Recognising the on-going growth of this niche business, the LSE has included SugaRich because of its dynamism and industry outperformance, despite the UK’s challenging financial climate.
SugaRich works with food manufacturers and retailers to transform high calorific food ‘waste’ into protein-rich animal feed. Established over 20 years ago, the company has continued to innovate and thrive as it has matured. Turnover figures of £78m were recorded in 2012, followed by £101m in 2013.
The past year has been particularly successful, explains commercial director Alex Keogh. "Throughout 2013, the UK’s waste reduction strategy has become even more defined," he commented. "The reasons for this are multi-faceted. The benefits of closed loop business models have begun to be more widely acknowledged, for instance. There is also no avoiding the fact that by 2020 the country must halve edible food waste.
"As a result our business has continued to grow," Alex continued. "We have started working with a wider number of manufacturers and retailers, of all sizes. We are saving these customers money by providing them with a solution that avoids costly traditional disposal routes.
"We are also encouraging waste hierarchy compliance and are reducing the environmental damage that would otherwise be caused if the food was incinerated or landfilled and left to biodegrade. What’s more, by creating a high energy animal feed from products unsuitable for human consumption, we are boosting the future quality of livestock products that people will then subsequently eat. We are turning the age-old linear food chain into a truly circular concept."
Commenting on SugaRich’s inclusion in the LSE’s report, SugaRich’s group director Paul Featherstone added: "The publication of this prestigious list reinforces how much there is to be proud of about British business. The fact that our organisation has been recognised amongst so many other incredible businesses is a huge credit to the entire team.
"The combined industry experience of our staff far exceeds 150 years. As we reflect on this achievement, it is a reminder to us all that our continued efforts and innovations are making a difference."