freshbaked make significant appointments to board

freshbaked, the Cardiff-based business services group, has made two significant appointments to its board to take the company through its ambitious three year growth plan.

Paul Ragan, former chief executive of south Wales insurance broker Protectagroup, becomes Chairman, while the former financial director at Protectagroup, Gary Ridewood, takes up the same position at freshbaked. The two new appointments come at an important time for the fast-growing business services group that is targeting a £10m group turnover by 2012.

Since it was established in 2004 by husband and wife team Richard and Kate Matthews, freshbaked has diversified from its original training roots into recruitment, communications, PR and design with seven separate divisions - freshbaked Training, freshbaked Business, freshbaked Corporate, freshbaked Communications, freshbaked PR, freshbaked People and limegreentangerine.

Earlier this year, freshbaked expanded its offering into the south west of England after winning a series of contracts through the Learning Skills Council for the services provided by business improvement specialist freshbaked Business.

Mr Ragan, who now runs his own investment company and recently launched ‘Collateral Thinking’, will work alongside freshbaked’s group managing director Richard Matthews to grow the business across the UK and make it a nationally recognised brand. With vast experience in managing high growth, diverse and acquisitive businesses, Ragan successfully executed 15 acquisitions for Protectagroup and is extremely well placed to help take the business forward to achieve its desired level of growth.

Mr Ridewood will work with the board to make consolidating changes to the Group structure so that it is as strategically, operationally and financially robust as possible to allow for these growth plans.

Richard Matthews, managing director of the freshbaked Group, says: “During the past five years, we have worked very hard to build up our offering and the brand in Wales and we are now at the stage of taking the Group to a new level. After successfully crossing the boarder with several contract wins in the south West of England earlier this year, we are now at a stage where we are looking to grow the business further along the M4 corridor and up into the north of England.

“The opportunities which we have in front of us are endless whether they are new projects, acquisitions, new markets or general organic growth however taking advantage of these openings requires the correct approach, planning and corporate governance in place to ensure that everything is managed in the correct way. We’re also aware that our plans are ambitious and require knowledge, support and guidance from people who have had experience in the areas where we don’t at present.

“Both Paul and Gary come with a huge wealth of experience, contacts and networks which will undoubtedly be of benefit to us as we take the business forward giving us extremely strong credibility when dealing with the big world of corporate finance and will help support our strategic growth plans.”

Paul Ragan adds: “I have watched with interest the growth of freshbaked over the past five years and how they have been successful at tackling saturated markets where there is a demand for a quality-driven product or service. The success that it has already accomplished in the Welsh market place is extremely commendable and testament to the talented team that they have in place and the potential for the Group is huge as there is definitely a gap in the market for a national business services group. We will undoubtedly be approached in the coming months by businesses that wish to be acquired and become involved in the next phase of growth, and we now have the team and facilities in place to critically evaluate these opportunities.

“Gary and I are thrilled to be on board and are looking forward to helping take the business forward to the next level.”