March 25, 2019

St Pierre Groupe has received an $8 million investment from Lloyds Bank’s Business Growth Fund. The investment will be used to accelerate international growth and product development for it’s three brands: St Pierre, Baker Street and Paul Hollywood.

Previously known as Carrs Foods, St Pierre Groupe sells bakery products in over 12,000 stores across the globe, with 60 percent of its distribution taking place in the United States. Revenue for the company increased from $21 million in 2010 to $90 million in 2018.

The investment will also be used to strengthen the company’s consumer relations via digital channels, as they expect to double its earnings in the next three years.

David Milner, former Chief Executive Officer of Tyrrells, an English snack brand, was recently appointed as new non-executive chairman by St Pierre Groupe. This will bring additional experience and expertise to the company and will help in the expansion of global brands.

“I am thrilled to be part of the St Pierre Groupe journey. I recognize many similarities in its working practices with those we adopted at Tyrrells. The company’s growth in the past decade has been genuinely exciting, and the international expansion and new product development gives us a huge scope to go to the next level,” stated Mr. Milner.