The company has been ranked as the third fastest-growing in the UK after Simmer Eats and KCS, the sixth fastest-growing company in the sector across Europe and 148th across all sectors.
The ninth edition of the FT1000 ranking, compiled by the Financial Times and data research company Statista, is a list of 1,000 companies in Europe ranked by compound annual growth rate (CAGR) between 2020 and 2023.
The minimum average growth rate to be included was 34.8%. Wafflemeister recorded a CAGR of 127.4%, growing revenue from just over €1 million in 2020 to over €12 million in 2023.
Rikos Leong-Son, chief executive at Wafflemeister, said: “We’re so proud of how the whole team successfully navigated the challenges posed by the Covid-19 pandemic – adjusting, readjusting, innovating and adapting, showing incredible resilience during this period.
“As a result, the business emerged stronger than ever. Since the reporting period, our business has continued to grow sustainably, and firmly cemented its place as one of Europe’s favourite waffle brands.”
To be included in the list, a company must have met the following criteria:
- Headquarters in one of 35 European countries
- Revenue of at least €100,000 generated in 2020
- Revenue of at least €1.5 million generated in 2023
- The revenue growth during this period was primarily organic
- The company must be independent