Rieke foresight and innovation scoops Business of the Year Award
The HighGrowth East Midlands Business of the Year Award is reserved for a top performing company seen as an exemplar in its market. Rieke Dispensing was able to demonstrate a recent history of spectacular growth and product innovation. Sales have increased by 81% in the past three years, culminating in 2009 being the most successful year in the company’s history. Against the background of a shrinking UK economy, sales grew by 36% and Rieke anticipates a further growth of 20% in 2010. Overall the company is on course to become a £30 million business by 2012.
Key to this success has been a major repositioning of the business. Rieke has focused on becoming a specialist solutions provider to four growing market sectors – pharmaceutical creams, medical scrubs, food and specialised hair care. By understanding and identifying the unmet needs of these sectors, the company has developed a new range of dispensers to satisfy these requirements and established itself as a partner of choice for companies in these markets.
Longer term plans include the establishment of a significant medical device business in tandem with its current dispensing products. Rieke is now working with a number of leading customers and has already developed one product for this sector, which will come to market in 2010, while a range of further devices are currently in development.
This focus on new product development has been accompanied by a comprehensive on-going training programme throughout the business, covering technical, engineering, sales and customer service functions. Rieke has also invested in further automation of its manufacturing operation to improve efficiencies.
In their citation, the emda judges stated that Rieke’s excellent business performance, with high growth despite the recession, would be an inspiration to other businesses. They also commented on the company’s bright future prospects.
“This award is a great achievement for Rieke and a fitting tribute to all our hard working staff,” comments Rieke Managing Director Mark Box. “With our focus on specialist solutions for significant niche markets, we have taken what was a well respected but relatively unambitious business and used our strengths to create a truly dynamic and fast growing company that is staying ahead of the competition by continually innovating its products and processes.”