Top Crust is a fast emerging bread and confectionery products business in Lagos, Nigeria. The Company is engaged in the production and sales of consistent high quality bread for the mass market in Ikeja and surrounds. It is the third largest bakery in a highly fragmented market.
Top Crust sought to expand its operations in Lagos, however the business required bolstering of its financial management function and MIS. It had limited brand visibility and an underdeveloped distribution network and route-to-market. The operating facility was not built-for-purpose, resulting in operational inefficiencies due to process flow challenges.
The AAF SME Fund committed $1.85m to Top Crust Bakery in October 2013. The funds have been invested in the acquisition of land, factory expansion, equipment, marketing and brand building. A TAF investment of €40,000 has also been made to carry out a new distribution strategy project that will aid the business in its growth and expansion.