A North East family business that supplies cheese worldwide has announced plans for multimillion-pound investments over the next two years to solidify its position as a UK leader.
Prima Cheese, a County Durham dairy specialist founded 27 years ago by Behraz and Essmat Beni, specialises in supplying shredded cheese to restaurants and takeaways both domestically and internationally. The firm exports to more than50 countries and saw significant growth in volumes last year, following concerted efforts to expand its export business.
The Seaham-based business, led by co-CEOs Nima Beni and Nagma Ebanks-Beni, children of the founders, has released accounts for the year ending March 2024 showing a 14% decrease in turnover to £104m, despite a 6% increase in sales volumes due to a 20% drop in wholesale cheese prices. However, operating profit rose from £3.7m to £5.2m, while pre-tax profit increased from £3.6m to £2.5m.
The company reported significant growth in both UK and export sales volumes, with export sales soaring by 72% and double-digit growth in the UK market. This success, it said, was driven by “a clear strategy of promoting own branded products over private labels, enhancing volumes and boosting brand recognition in the food industry”.
A report within the accounts highlighted how continued modification and investment in production lines helped to boost Prima Cheese’s flexibility, customer satisfaction efficiencies. Investments were made in the premises, plant and people, including in its fleet of vehicles with the addition of several new trucks and trailers, reports Business Live.
Looking ahead, the company said it will continue to focus on expanding into new geographical locations as well as promoting existing brands and developing new products. The year also saw the company open a London office, which is now the centre for all of its commercial and marketing activities.
The Islington office is based in a historic building acquired by Prima Projects, the property arm of the family’s wider 4B Group. Following publication of the accounts Nagma Ebanks-Beni explained how Prima Cheese is set to make multimillion-pound investments over the next two years, in projects which will increase employee numbers, currently standing at around 200, across both sites in Seaham and London.
Ms Ebanks-Beni said the investments aim to solidify the company’s position as the largest independent cheese processing company in the UK, adding that investments will target international trade expos, market visits, and expansion of the commercial team in both UK and international markets.
She said: “This commitment aims to ensure Prima’s legacy remains robust for years to come. We will be investing in machinery, site and facilities upgrades in 2025, demonstrating our commitment to our ambitious growth and expansion plans both within our domestic and international markets. Our site and facilities upgrades are a testament to the investment we make not only to achieve our growth ambitions, but also as an investment in our people and our company. We will also be investing in trebling our Prima South offices by the end of 2025.”
At the end of the previous year, significant control of Prima Cheese Limited was transferred to The 4B Group Limited – newly established according to Ms Ebanks-Beni as a legacy project that ensures future generations and contributors to the company’s growth continue their involvement with its evolution.
She said: “In a family business, non-family employees may feel they’ve hit the ceiling. The 4B Group allows new growth opportunities. As much as it is about legacy, it is also about diversification. There are three parts to 4B Group. Prima Futures is about consultancy and joint venture opportunities. Prima Cheese is the food business and Prima Projects is a commercial property arm.
“The 4B Group enables that to be brought in as a business subsidiary. For example, its first acquisition is the group’s London office building, where I run the commercial and marketing operation. London is the first but we are also eyeing properties in the North East too. Building the commercial hub means we will have to up our game from an operational point of view, so it’s about how we can continue to stay relevant and be able to seize new opportunities.”