Little Moons, the UK-based mochi ice cream desserts business, is poised to open its second factory, marking its first plant outside of London.
Founded in 2010 by siblings Howard and Vivien Wong, the company has injected an undisclosed sum into the Kettering site in Northamptonshire, England. The 50,000-square-foot facility is scheduled to commence production in the first quarter of the upcoming year.
In 2020, Little Moons inaugurated a factory in Park Royal, located in the northern part of London. The company’s headquarters are situated in Farringdon, which is also within the capital city.
According to a statement, the company has expanded its range of ice cream wrapped in mochi dough treats to Australia, achieving retail sales of A$10 million ($6.4 million) since the launch in the previous autumn.
Little Moons reported a group turnover of £64.5 million ($78.6 million) for the 18 months ending on December 30, 2022, as compared to £25.5 million in the 12 months ending on June 30, 2021.
In the United Kingdom, Little Moons provides its products to major supermarkets such as Tesco, Sainsbury’s, and Morrisons. Additionally, the company has expanded its presence beyond the UK, with its products distributed by retailers in France, Germany, Austria, Switzerland, Denmark, Italy, Norway, Spain, and Croatia.
New Zealand is scheduled to join the list this coming autumn.
Last year, Little Moons entered into a minority interest sale with the US-based private-equity firm L Catterton, the details of which, including the amount and extent, were undisclosed.
According to documents submitted to Companies House in London, the company reported an adjusted EBITDA of £8.5 million over the 18 months ending in December, marking an increase from £6.9 million in the preceding 12 months.
However, the net profit declined to £1.5 million from £4.8 million.
“The UK and European ice-cream markets are very competitive and the trading environment places pressure on suppliers to deliver high-quality products at competitive prices,” the filing read.
“The business is executing a strategic programme, which includes building a new factory to expand our production capacity to satisfy growing consumer demand.
“The business will continue to focus on sales growth through deepening distribution with existing retail partners in grocery and out-of-home and expanding our presence in international markets.”