Entrepreneurs give their take on '10, look ahead to '11'

Premium content from Boston Business Journal - by Sean McFadden

Date: Friday, December 31, 2010, 6:00am EST

Food for thought

Strategic change has defined Blount Fine Foods, a manufacturer of hand-crafted soups and seafood products, since its launch in 1946. “We re-conceptualize our business almost every year,” president Todd Blount said in the previous profile. The growth of its soups business, as well as its expansion into new product lines, led the company to undertake a major expansion of its main facility in Fall River this year.

Lessons learned

Todd Blount said he believes in taking advantage of some of the opportunities presented by the recession: “Low interest rates, competitive contractor quotes, good employee market. Sell from a positive position of strength in an otherwise down market.”

At the same time, he’s observed continued demand for the company’s products. “I think the consumer is still hungry, so to speak, for good food,” Blount said. “Even in this down economy, the consumer still wants a quality product. And, thank goodness, because we count on that.”

Goals achieved

The company recently completed the expansion project that added 58,000 square feet to its pre-existing 65,000-square-foot facility in Fall River. Blount said the project came in on budget at about $16 million. And, he expects that the company’s full-time workforce, which currently stands at about 200, will also expand — by about five new hires per year for the next five years.

A key strategy for the company has been product diversification, and it has successfully introduced both a line of gourmet dips and spreads, and, more recently, prepared salads. Helping to nurture those efforts were the promotions of Robert Sewall to executive vice president of sales and marketing and William Bigelow to vice president of business development.

And for 2011?

Blount said the company will look to fill out its facility addition with new equipment. It is also targeting the possible acquisition of another company — “a small prepared-foods company,” Blount said. On the product front, he said the company has two initiatives in the works, including pasta sauce. And, the company will look to target more national restaurant accounts.