Oishii Foods, the Dublin based sushi business led by Ciara Troy, has been listed by Tesco and Lidl Northern Ireland.
Oishii Foods said it will initially launch with three of its ‘ hero products’:
+ Smoked Salmon & Prawn Sushi 240g
+ Chicken Katsu & Hoisin Duck 100g
+ Smoked Salmon & Tuna 100g
Launched in 2006, Oishii Foods says it is Ireland’s leading artisan producer of high quality ready to eat sushi.
According to Troy "The demand for this type of fresh and convenient product offering was greater than we thought, and has increased in popularity as time has gone by.
"This is a terrific milestone for us! As a small team who are passionate about making nutritious, tasty Japanese food for a more mainstream consumer, this feels like the beginning of significant expansion for the Oishii brand.
"Now more than ever, people are looking for easy ways to stay healthy and my hope is that these latest partnerships with Tesco and Lidl Northern Ireland will make that even more accessible."
Oishii Foods has availed of Enterprise Ireland’s Sustaining Enterprise Fund.
In an agency blog post, Troy recalled that when Ireland first went into lockdown in March 2020, food production at Oishii Foods was reduced to one main nationwide account.
Going down the online retail route wasn’t an option as Oishii products are perishable.
An EI Business Advisor explained the available support mechanisms, including the Sustaining Enterprise Fund.
"We went over the details of the SEF, and although it did involve some work on our part, it was very much worth it. This grant will be a game changer for our business," said Troy
Troy added that her business plan to use the funding to improve processes, fill gaps in their management team, and expand the business by securing new premises to facilitate growth over the next five years.
Most of the grant money is earmarked fit-out and capital expenditure for the new location.
"This is really exciting," said Troy. "This business was my first baby! We have been inching our way forward. Covid forced us to stop and consider what our strategy would be and where we would go next."
"I have an entrepreneurial spirit and am very resilient, but I was relieved when we were approved for funding from Enterprise Ireland," she said. "They believed in our business, which gave us new confidence in ourselves."
Despite lockdown impacts, abridged financial statements for Oishii Foods Ltd disclose a net profit of €153,000 in 2020, up from €44,000 the year before.
Balance sheet cash expanded to €688,000 in December 2020 from €123,000 a year earlier. Through 2020, the company was in receipt of €100,000 in government grants and €150,000 in ‘other loans’.
Company net worth in December 2020 was €441,000 compared with €288,000 a year earlier.