Greggs
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| Type | Public (LSE: GRG) |
|---|---|
| Industry | Food (Bakery Group) |
| Founded | 1939 |
| Headquarters | Newcastle upon Tyne, England, UK |
| Key people | Derek Netherton (Group Chairman) Ken McMeikan (Chief Executive) |
| Products | Sandwiches, pies and pastries; baked goods |
| Revenue | £662.3 million (2010)[1] |
| Operating income | £52.4 million (2010)[1] |
| Net income | £37.9 million (2010)[1] |
| Employees | 19,181 (2010)[1] |
| Website | www.greggs.co.uk |
Greggs plc (LSE: GRG) is the largest specialist retail bakery chain in the United Kingdom. It was established in the 1930s as a single shop but as of May 2011[update] has approximately 1,500 outlets.[2] It is based in Newcastle upon Tyne and is listed on the London Stock Exchange where it is a constituent of the FTSE 250 Index. It also holds the key to the city of Newcastle.[3]
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[edit] History
Greggs was founded by John Gregg as a Tyneside bakery in 1939.[4] It opened its first shop in Gosforth, Newcastle upon Tyne in 1951.[5]
Major expansion began soon after it was taken over by his son, Ian, on John's death in 1964: this included the acquisitions of other bakeries such as Glasgow based Rutherglen in 1972, Leeds based Thurstons in 1974, Broomfields the Bakers, London, Bowketts the Bakers Kent, Tooks the Bakers (East Anglia) and Manchester based Price's in 1976.[6]
In 1994, the company acquired the Bakers Oven chain of bakers' shops from Allied Bakeries.[6]
In 1999, Greggs rebranded its 100 Braggs bakers shops as Greggs of the Midlands and its Leeds-based Thurston chain as Greggs of Yorkshire.[7]
Starting in 2003, in an attempt to test the foreign market, Greggs opened a total of ten stores in Belgium; principally in Antwerp and Leuven.[7] These have all since closed as Greggs concentrates on the UK market.
On 9 December 2008, Greggs announced that all of its 165 Bakers Oven branded shops would be re-branded into the Greggs brand so that all the shops could benefit from the Greggs national advertising campaign.[8][9]
In March 2011, the company opened its 1,500th shop, in York.[2]
[edit] Operations
The company has grown steadily over the years and now has over 1,500 outlets, with many town and city centres having several stores. In 2009, Greggs announced plans for another 600 stores, and has become bigger than fast food chain McDonalds, within the UK. [10] It has a divisional structure with central bakeries around the country supplying the shops in their surrounding areas.
As well as selling British freshly baked savouries such as sausage rolls and Cornish pasties, local items are also available. Traditional Tyneside and, more generally, North East foods are usually available, for example pease pudding and Stotties. The available products are frequently updated and change according to the time of year. For example at Hallowe'en various themed products are available.
In October 2007, Greggs pioneered a late night store in the entertainment quarter of Birmingham. This branch is the first of its kind putting it in direct competition with more traditional late-night eateries. A store in Sheffield (Division Street) and Leeds (Albion Street) both open late from Wednesdays to Saturdays, with two stores in Glasgow (Gordon Street, Sauchiehall Street) open late Friday-Saturday.
Greggs raised £1,001,056 for Children In Need in 2011.
[edit] Marketing
Actress and model Milla Jovovich, a fan of the store and its pasties,[11] said in 2002 that she would be willing to become the "face of Greggs" in a new marketing campaign if the firm approached her, though no such approach was made.[12] Jovovich's spouse Paul W S Anderson shares his Gosforth roots with Greggs and introduced Jovovich to the brand.[13] The latest advertising slogan for Greggs is "The Home of Fresh Baking",[14] and recently the face of Greggs has been British Comedian Patrick McGuinness.[15]
[edit] Nutrition
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This section has been nominated to be checked for its neutrality. Discussion of this nomination can be found on the talk page. (December 2011) |
Greggs core product and market is based around traditional comfort foods, for example selling two million chicken bakes per week, and selling millions of sausage rolls. A nutritional guide can be found on their website [16] .
[edit] References
- ^ a b c d Annual Report 2010
- ^ a b "GREGGS plc INTERIM MANAGEMENT STATEMENT" (PDF). Greggs plc. 11 May 2011. http://corporate.greggs.co.uk/assets/Uploads/Greggs-IMS-11-5-11-FINAL2.pdf. Retrieved 24 July 2011.
- ^ "Greggs awarded freedom of the city of newcastle". 2010-02-10. http://corporate.greggs.co.uk/greggs-awarded-freedom-of-the-city-of-newcastle/. Retrieved 2012-01-10.
- ^ "Takeaway market holds key to Greggs' future". The Northern Echo. 2003-11-18. http://archive.thenorthernecho.co.uk/2003/11/18/70393.html. Retrieved 2010-02-16.
- ^ "Earning a crust; How famous bakery rose from pushbike yeast deliveries Remember When a blast from the past. (News)". Entrepreneur.com. 2008-03-19. http://www.entrepreneur.com/tradejournals/article/print/176862732.html. Retrieved 2010-02-16.
- ^ a b "history". Greggs. http://www.greggs.co.uk/about_us/history/. Retrieved 2010-02-16.
- ^ a b "Greggs". Ukbusinesspark.co.uk. http://www.ukbusinesspark.co.uk/greggsaa.htm. Retrieved 2010-02-16.
- ^ "Chief Executive's Review and Trading Update". Greggs plc. 2008-12-09. http://www.ir.greggs.plc.uk/greggsplc/html.jsp?id=128. Retrieved 2009-03-10.
- ^ "New uniform for Greggs PLC". 2010-02-11. http://www.workwearexpress.com/news/new-uniform-for-greggs-plc-11210-bl17/. Retrieved 2010-02-11.
- ^ "How did Greggs conquer the High Street?". BBC News. 2009-11-10. http://news.bbc.co.uk/1/hi/magazine/8330573.stm. Retrieved 2009-11-10.
- ^ "Milla munches Geordie fare". BBC News. 2002-07-09. http://news.bbc.co.uk/1/hi/england/2118134.stm. Retrieved 2007-04-16.
- ^ "Slav to love". Daily Telegraph. 2007-04-08. http://www.telegraph.co.uk/fashion/main.jhtml?xml=/fashion/2007/04/08/stmilla108.xml. Retrieved 2007-04-16.
- ^ "Milla Jovovich and hubby’s baby hopes". Sunday Sun. 2008-10-05. http://www.sundaysun.co.uk/news/north-east-news/2008/10/05/milla-jovovich-and-hubby-s-baby-hopes-79310-21966282/. Retrieved 2010-02-16.
- ^ Bringing Home the Baking
- ^ Paddy McGuinness campaign helps Greggs the baker Daily Mirror, 12 August 2009
- ^ . http://corporate.greggs.co.uk/assets/NewFolder/Nutritional-Information/Nutritional-Information.pdf.
[edit] External links
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