Abel & Cole enjoys fruits as organic appetite returns
THE fashion for having boxes of organic fruit and vegetables delivered to your door has bounced back, according to food campaigners, but the recession pushed smaller firms to the brink.
Organic food group The Soil Association said a third year of strong growth in the sector was dominated by two firms that deliver nationwide – Abel & Cole and Riverford – while more local businesses are seeing sales fall.
Abel & Cole, which came close to collapse when recession struck its food-conscious customers, has released results showing it has emerged from huge debts to record a rise in turnover.
The delivery company said sales rose to £38million in the eight months to April 27, 2013 – a 24 per cent increase on the same period a year before.
But it saw a loss of £208,000, down from a £3million profit, due to costs associated with expensive leases.
Abel & Cole, based in Wimbledon, South-West London, was founded by former barrister Keith Abel, right, in 1988, and was bought in 2007 by Phoenix Equity Partners for about £40million.
Soon afterwards it was hit by the fall in consumer spending in the recession, with losses of £27million in 2010.
The company was bought by the William Jackson Food Group – the maker of the Aunt Bessie’s range, including its Yorkshire puddings – in October 2012.