After more than 35 years in the food and drink industry, and six years leading Gu, Peter Utting has retired.
Utting joined Gu in February 2019 and since then, he’s led the company through a period of significant change and growth, including cementing its position as a market leader in chilled desserts, securing investment from Exponent in 2021 to buy the business from Noble Foods and invest in a second production line, achieving B Corp status, and expanding internationally with the business now available in 10 countries.
Its latest statement on Companies House for the 52 week period ended 29 September 2023 saw the business making a profit of £2,901k on turnover of £66,587k.
Whilst the business saw several external headwinds, with soaring inflation, HFSS rules and a cost of living crisis which impacted the consumption of premium desserts in the UK and France, it still witnessed modest sales growth in the year, with the successful performance of new products and growth in the UK. Overall sales were slightly down in France, with a 1% fall, as price hikes dampened the rate of sale.
“Being part of Gü has been one of the highlights of my career. I’m so proud of what we’ve achieved together,” said Utting.
“Whilst I’ll miss the team and the business, I’m excited to see all the great things Gü will continue to accomplish. I would also like to thank the Dean family as the owner of Noble Foods for giving me for giving me the opportunity to lead this business and latterly with Exponent, who have been a tremendous support over the last three years”
Following Utting’s departure, Emma Vass will step into the role. Vass boasts almost 25 years of experience in food and drink, with her most recent role leading Ecotone’s UK division where she was responsible for brands such as Clipper Tea, Kallo, and Whole Earth.
“Gü is such a beautiful, innovative brand with potential to become one of the leading global indulgence brands - I am delighted to have the opportunity to join the team and be part of the continued success,” said Vass.
Simon Davidson partner at Exponent added: “We’d like to thank Pete for his successful leadership of Gü, over the last six years, and welcome Emma at this very exciting time. Gü delivered double-digit volumes growth last year, and with the significant investment now made in new capacity, the brand is strongly positioned to continue this growth under Emma’s leadership.”
Following Vass’s departure from Ecotone, Bryan Martin has stepped into the role of UK CEO for the business.
