South London shellfish supplier targets international growth with HSBC funding

Shellfish supplier Saggiomo Luxury Foods has relocated to new premises in London with the help of £90k funding from HSBC.

The company moved from Mitcham in South West London to a facility at Beddington Industrial Estate in Croydon, in an effort to improve efficiencies and unlock expansion overseas.

Saggiomo Luxury Foods has consolidated its office space, cold rooms and processing facilities, previously spread over multiple sites, to a single base at Beddington.

It is expecting the move to help drive revenues by 25% and reduce costs, which will enable it to explore export opportunities in China, New Zealand and elsewhere.

Saggiomo Luxury Foods sources and delivers organic shellfish to customers including Reynolds, Seafood Holdings and M&J Seafood.

The business was founded in 2001 by Gerardo Saggiomo in Italy, where it specialised in seafood purification.

Gerardo brought the company to the UK in 2007 as a supplier of sustainably sourced and purified shellfish.

Paolo Moresco, who co-owns the UK firm with Gerardo Saggiomo, said: “Thanks to HSBC’s support, we’ve been able to unify our business which will drive cost efficiencies and make our operations more effective.

“It also means we’re in a better position to start looking at export opportunities, and we’re currently exploring our options in China and New Zealand.”

HSBC UK’s area director for business banking in South London, Lucy Wynn, commented: “Saggiomo Luxury Foods has gone from strength-to-strength over the last few years and is now well-established in the UK as a leading supplier of quality shellfish.

“We look forward to supporting the business further as it seeks to build on its endeavours here and expand internationally.”