The award was made on November 21, according to a release from the parent company of Grace Foods, Jamaica’s conglomerate GraceKennedy Limited.
Grace Foods UK began in 2007 after GraceKennedy’s acquisition of then WT Foods, a leading ethnic and specialty foods supplier, from Bridgepoint Capital Limited, a European private equity firm.
The relationship with Tesco began in 2008 and started the push to build the business there, the release said.
“The process of getting listed in the chain is a long and intense one as negotiations generally last for an average of six months or longer before you get on the shelves,” revealed Managing Director, Grace Foods UK Ltd., Ryan Mack.
He added that “when you do get on the shelves you are challenged to maintain service levels above 98 per cent, so supply chain excellence is paramount.”
Tesco, the world’s third largest retailer by revenues after Wal-Mart and Carrefour, and the second largest measured by profits after Wal-Mart, gives the award after assessing hard data of suppliers’ performance in each category in its stores.
According to Mack, the award “... is recognition of the excellent growth performance of our products and our ability to meet our customers’ high supply standards.”
He added that “it recognises our value to one of our key customers and enhances our credibility as a key branded fast moving consumer group business in the UK. We see further growth opportunities across several product categories and market sectors and have an excellent team in place to execute this opportunity.”
Mack said the world food category in Tesco was growing and gave Grace Foods UK optimism for continued growth of its business as the company continued to provide service of the highest quality in a very demanding and unforgiving market place.
GraceKennedy Group chief executive officer Don Wehby expressed pride at hearing of the award.
“It shows that we are making steady strides on our road to becoming a global consumer group. It is very good news for us, as it signifies that we are poised for further growth in our UK business,” he said. “I am very proud of the hard work put in by the team there. It is their hard work that has brought about these results.”
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