News
September food and drink investment round up
Nestlé invests more than £150m into pet food factory
Nestlé Purina has started work on upgrading its factory in Wisbech after committing £150m to the project.
The manufacturer is using the funds to upgrade machinery, improve energy usage and reduce carbon emissions.
Felix, Gourmet and Winalot products are manufactured at the site, where 40 new positions are currently being advertised.
“This investment reflects the great work being done by our teams to position the UK as a market with significant manufacturing expertise and capability and where targeted investment, like the upgrades at Wisbech, can contribute to the growth of our business here and around the world,” said Richard Watson, CEO of Nestlé UK & Ireland.
Moth secures £4.6m to drive growth
Ready-to-drink cocktail brand Moth has secured a £4.6m investment from venture capital firm Beringea.
During the announcement on 9 September, Moth outlined plans to use the funding to build upon its strong position within the UK and open an office in the US.
Moth currently holds a 41% share of the premium RTD category in the UK off-trade market.
“This investment is a testament to our success and a crucial step in our next chapter,” said Moth co-founder Sam Hunt.
“We are excited to expand our footprint in the US, bringing our bar-quality, ready-to-pour cocktails to even more consumers. Our mission remains the same – to deliver the most delicious cocktail experience, anytime, anywhere.”
Investment in Community Foods reaches £23m
Dried fruits and nuts ingredients manufacturer Community Foods received an additional £6m in funding from Praetura Commercial Finance Group earlier this month.
With Christmas just around the corner, the firm hopes to harness the investment in order to reach more customers and further expand its product offering.
The firm has secured £23m in investment to date, much of which was used to enhance its 80,000 square foot production and warehousing facility.
Community Foods managing director Martin Rome commented: “Praetura have enabled us to seize a number of opportunities that have come our way this year which will have a significant impact on the business over the next couple of years.”
Aldi to invest £800m in the UK
Supermarket chain Aldi announced plans to invest £800m into its operations during September, with the funds set aside for store openings and price cuts.
The retailer plans to open 23 new UK stores before the end of 2024, while it has reduced the price of more than 300 products.
Aldi is also refurbishing 100 of its current stores and expanding its distribution network.
Giles Hurley, chief executive officer for Aldi UK and Ireland, explained: “British shoppers are voting with their feet and choosing Aldi as their first-choice supermarket. We’re responding with our biggest ever annual investment in Britain.”
Plant-Ex earns £9m backing
Ingredients manufacturer Plant-Ex secured £9m in funding from investor BGF earlier this month.
The news came shortly after Plant-Ex had opened its new factory in Bristol and launched a business division in the US, with the investment set to help power its ambitious both in the UK and around the world.
Alongside the investment, the firm announced the appointment of non-executive chair Susan Barratt to its board after she was recruited through BGF’s talent network.
“Having the funds in place combined with strategic support from BGF and Susan means that the next major developments can be planned and executed to deliver against the high standards expected by our international customer base,” said Plant-Ex founder and CEO Giles Drewett.
