Health supplement giant Principle Healthcare has strengthened its position as one of the UK’s leading suppliers of vitamins, minerals and nutrition supplements, reporting an annual turnover of £20m as the North Yorkshire firm marked 21 years of trading in both UK and International markets.
Established in September 2002 by founder Mike Davies, MBE, over the last two decades the Skipton-based operation has evolved from a small family concern to one of the fastest growing challenger brands in the UK’s food supplement sector. It is now part Addvance Consumer Healthcare, a leading European nutritional supplier operating across multiple categories and countries.
In 2006, the firm launched Principle Healthcare International to distribute its Vitawell range around the globe, a move which resulted in The Queens Award for International Trade.
Earlier this year the firm announced the appointment of its former sales director, John Sutcliffe, as managing director.
John, whose previous roles include head of sales at Yorkshire health supplement manufacturer, BetterYou Ltd, will take over from Principle’s current MD, Andrew Davies, at the end of this year.
With a staff of twenty the operation has been quick to adapt to the growing demands of the UK food supplements market, particularly the rise in demand for gummy-format vitamins, which currently account for 42% of the firm’s annual turnover.
Commenting on the latest financial results, John attributes Principle’s success to “a highly effective sales operation, sustainable supplier and customer relationships and the ability to adapt quickly in a fast growing sector”.
Since 2011 the firm has nurtured close ties with Yorkshire children’s charity The Principle Trust, which provides free respite breaks for children who are underprivileged, disadvantaged, disabled, have life-limiting conditions, or who have experienced poverty, trauma or abuse. In the past two years the company has funded respite breaks for over 90 of the region’s neediest families.
