Why Invest with Taste Holdings?

Taste’s earnings are underpinned by great challenger brands trading across diverse categories, led by entrepreneurial people with established track records who are incentivised on both group and divisional performance. The group has strong growth levers, is underpinned by good-quality earnings and cash flows, has a record of good governance and disclosure, and an 11-year track record.
Great Brands
Underpinning the earnings are great brands - all challenger brands with demonstrated ability to grow organically; with large marketing funds; and led by entrepreneurial people with track records of success.
Diversification
The portfolio of brands target consumers from LSM 4 upwards with propositions that are underpinned by strong value for money offerings. Furthermore, the group trades in 2 distinct product categories with similar consumers, routes to market and key success factors; across diverse store formats.
Entrepreneurial People
The founding directors and divisional CEO’s are all shareholders, and have all owned and grown businesses in the past. The average age of the board and Executive Committee is 52 and 46 years, respectively.

Track Record
Although the group has been listed for 6 years, the brands that underlie the business have a combined trading history of over 80 years. Scooters Pizza is 11 years old, Maxi's 18 years, NWJ is 28 years old, St Elmo’s 23 years old and The Fish & Chip Co. is 3 years old.
Growth
The 6-year review highlights clearly the group’s ability to grow organically and through acquisition. A 6-year annual compound growth rate in HEPS of 27% reflects the numerous growth levers. The acquisition of The Fish & Chip Co. in 2012 adds substantial growth levers to the business. The take-on of distribution for the food division during the 2012 year will unlock significant value into the future.
Cash Generative
The predominantly franchise model in both divisions yields high levels of cash generation as well as the ability to grow with minimal capital expenditure due to franchisees funding new store growth.
A Record of Good Governance
The group has always had an independent non-executive Chairperson, and Audit and Remuneration Committees which are led by non-executive directors. Taste has a good record of disclosure and shareholder communication.