A FOOD company aims to take a big bite out of the national boom in sandwich scoffing, writes David Duffy.

The Sandwich Bank and Crust Company, which is based in Market Square, Bicester, is planning to raise nearly £1m when it floats next month.

At present the company operates sandwich bars in Bicester and Buckingham and has a major subsidiary, trading as Benny's (UK) which operates from Liverpool.

Benny's has two divisions, The Liverpool Sandwich Service, which makes and wholesales sandwiches, and Benny's Mobile Diner, which operates a fleet of 28 vehicles selling a range of products to more than 4,000 people a day at offices, retail parks and industrial estates.

Colin Forsyth, co-founder of The Sandwich Bank and crust Company and non-executive group chairman, said the group aimed to use the money raised to expand business including :

Development of Benny's Mobile Diner franchise operation to a chain of eight depots by December 2000

Increasing the number of Sandwich Bank and Crust Company stores to eight

Investment in production. He said the Bicester and Buckingham stores send out flyers as "bank statements" to customers advising them of the latest sandwiches available.

He said: "Consideration is currently being given to the concept of 'cheque books' - essentially loyalty vouchers - for customers to redeem at The Sandwich Bank and Crust Company stores.

"This has also created interest from local companies inquiring as to whether they could buy the 'cheque books' as employee incentives to be used as luncheon vouchers."

He said the value of the commercial sandwich market has been estimated at £2.66bn a year.

He said: "Historically, market growth has been dramatic - the sandwich industry showing an increase in terms of sales value of 75 per cent between 1990 and 1995.

"Since then growth has been steady at around five to seven per cent a year, with high-street multiples and other retailers moving into convenience food retailing.

"The trend towards shorter lunchbreaks and working through lunch has also increased the need for prepared food."

Dealings in the share capital of the company are expected to start on the OFEX exchange on March 30.

Converted for the new archive on 30 June 2000. Some images and formatting may have been lost in the conversion.