Cake Box Holdings
CBOX:LN
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Overview
Company Profile
The first concept store opened in East London in 2008. The business expanded to a franchise estate of 91 stores by June 2018 when it was listed on AIM. Since the AIM listing, the group has grown to 185 stores with a further 35 kiosks, giving a total of 220 outlets at 31st March 2022.
The Group has grown predominantly through franchise expansion and today does not directly own or operate any of Cake Box’s stores, although its Executive Directors have all previously run their own franchise stores.
The Group’s cakes are completely egg free, which the Directors believe has no effect on taste and texture and allows the Group to service a much larger potential market, including those customers who are unable to eat eggs for dietary or religious reasons.
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Financials
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Corporate
Board of Directors
Nileshbhai (“Neil”) Sachdev
MBE, Independent Non-Executive Chairman
Neil Sachdev MBE is an experienced Chairman with a strong background in corporate governance and strategy. He was Chairman of Sirius Real Estate Limited until December 2017 and was Chairman of Market Tech Holdings Limited until June 2017. Neil stepped down as a Non-Executive Director of Intu Properties plc (formerly Capital Shopping Centres) in 2016 after ten years’ service. Previously, Neil held the post of Group Property Director of J Sainsbury and before that served for 28 years with Tesco, where he rose to be Stores Board Director, responsible for property and operations for the entire UK business. He also holds a number of public sector positions and was awarded an MBE for his work in relation to Energy Efficiency & Sustainability in the retail sector. Mr Sachdev is currently the Chair of the Advisory Board of Warwick Business School. Mr Sachdev, MBE was appointed to the Board on 20 June 2018.
Sukh Ram Chamdal
Chief Executive Officer
Sukh Chamdal founded Cake Box in 2008 and co-founded the franchise arm of the business in 2009. He has over 35 years of experience in the food manufacturing and retail industry, having begun his career in the family business selling Indian sweets and savouries. He is a consultant for a food equipment company specialising in high volume food production. Sukh previously owned a food catering company suppling vegetarian food for functions and events. Mr Chamdal has been a director of the Company since 27 March 2009.
Dr Jaswir Singh
Chief Operations Officer
Dr Singh joined Cake Box in 2010. He originally qualified as a medical doctor, before leaving medicine to join his family textile business, which he ran throughout the 1990s. He then ran his own restaurant business during the 2000s before joining Cake Box. Dr Singh is a director and shareholder of six companies which each own a Cake Box franchise store. The Directors believe that this provides the Group with a valuable insight into franchise store operations and the Group often trials new products and initiatives in the stores in which Dr Singh has interests in. Dr Singh has been a director of the Company since 18 June 2012.
Martin Blair
Independent Non-Executive Director
Martin Blair is an experienced director of several AIM listed companies with a strong financial background. He previously acted as CFO of Pilat Media Global plc, a company which was listed on both AIM and the Tel Aviv Stock Exchange. He joined Pilat Media in 2001, ahead of its admission to AIM in 2002. Pilat Media was acquired by SintecMedia Ltd for £63.3 million in April 2014. He qualified as a chartered accountant with Ernst & Young in 1982 and between 1983 and 1986 worked for PwC. He is also currently a non-executive director and Chairman of the Audit Committees at the Marketing Group, Green Biologics Ltd and AIM listed Kape Technologies plc. Mr Blair was appointed to the Board on 20 June 2018.
Adam Batty
Independent Non-Executive Director
Adam Batty is a non-executive director of AIM listed Stride Gaming plc and a founder and chief executive of a new, fast casual, premium chicken concept that is being rolled out in major cities across the UK. A corporate lawyer by training, he worked in private practice at Norton Rose Fulbright and in an investment bank before joining Mitchells & Butlers PLC in 2002 where he spent five years as legal director (and, latterly, risk and compliance director). He joined Domino’s Pizza Group plc in 2007, where he spent five years as general counsel and company secretary, which involved being a member of its operating boards in the UK, Germany and Switzerland. From early 2013 until autumn 2017, Adam was the general counsel and company secretary at Selfridges Group, where he had a broad legal, governance and commercial role. Mr Batty was appointed to the Board on 20 June 2018.
Alison Green
Independent Non-Executive Director
Alison started her career in advertising before moving into marketing where she held a number of senior executive roles, most recently as Chief Marketing Officer at Optima Health and prior to that as Head of Marketing & Communications at AXA Health. She has extensive experience in brand management, marketing, communications strategy and digital transformation. Alison is a strong advocate of diverse and inclusive workplaces and was formerly a member of AXA UK’s diversity and inclusion board. She is also a Director of WOMBA, a coaching consultancy that works with organisations to help support the career development of working parents. Alison holds a Master of Science (MSc) in Executive Coaching, a Bachelor of Science (BSc) in Psychology with first-class honours and a Bachelor of Arts (BA) in Business Studies.