Prima hopes new base will boost global trade
FOOD firm Prima Cheese has expanded into London with a new office and retail space amid efforts to boost international trade.
The County Durham dairy specialist, which specialises in shredded cheese for pizza toppings, has opened new premises in north London via its property company Prima Projects. ‘Prima South’ is located on Islington’s Holloway Road in The Billiard Factory property which is home to a number of creative businesses and adjacent to the National Youth Theatre.
It says the move is part of plans for growth in 2024, including pursuing more overseas trade opportunity. Prima already exports to 50 countries and in 2023 generated turnover of more than £18.7m outside of the UK.
Last year Prima featured for the fifth time in the North East’s Fastest 50 list of fast-growing, privately owned businesses. It also reported “change and innovation” across the business as it invested amid a rise in turnover. In the year to March 31, 2023 it grew turnover by 32% to £121.7m. Over the same period, operating profit fell to £3.7m from more than £5m, though the firm grew its headcount slightly to 166.
The acquisition of the Prima South space was advised by Sintons’ partner Alok Loomba, partner, supported by Chris Jackson, senior associate.
Mr Loomba, a long-time advisor to Prima, said: “Prima Cheese was founded in 1996 and since then it’s grown to become one of the UK’s leading cheese processing businesses, exporting to countries around the globe. Prima is a real success story and the acquisition of this new site in London marks a significant milestone in its growth, opening doors to new markets in the UK and beyond.”
Nagma Ebanks-Beni, co-CEO of Prima Cheese, said: “More than 25 years ago, Prima started operating out of a small industrial unit in County Durham; but we had big plans and today we’re one of the largest exporters in the North East. Our new London base is a key part of our growth strategy and Alok and his team moved quickly to help us secure the premises we wanted in what was a competitive and fastmoving environment.”
Nima Beni, co-CEO of Prima Cheese, added: “Having searched for some time for a location to set up Prima South, we were delighted to come across The Billiard Factory. The mix of creative businesses operating from the site appealed and, being located right at the heart of the Borough of Islington makes it an ideal base from which to facilitate, host and deal with more international trade partners.”