UK – Weetabix Food Company, the bestselling cereal brand in Britainn has announced a £30 million (US$37.93m) capital investment programme across its UK manufacturing sites in Burton Latimer and Corby.
The news of the investment comes as several suitors are lining offers to buy the 60% of Weetabix owned by the Chinese food group, Bright Food.
The creation of the new production capacity by 2018 will significantly raise volumes to match rising sales of Weetabix biscuits both at home and overseas.
The investment will see new jobs created, swelling Weetabix’s global workforce, according to the company.
“We’ve consistently bucked the market, through our innovation and focus on nutritionally strong products that taste great,” said Giles Turrell, CEO of Weetabix Food Company.
“We have been successful in increasing our sales of brands such as Weetabix and Alpen, with consumers trusting us to deliver best in class nutrition and taste,” he explained.
The investment comes on the back of Weetabix’s UK market share for cereals and drinks rising from 15.3% to 16.4% in the past year as British shoppers look for more nutritious, tasty and convenient breakfast choices.
The creation of further production capability in Burton Latimer and Corby by 2018 will also allow Weetabix to match consumer demand for its popular breakfast cereals.
According to the company, the launch of Weetabix Protein last year added £7 million (US$8.85m) to sales in 2016, and was the biggest new cereal launch in the category.
Alongside cereals, Weetabix runs a thriving breakfast drinks business, Weetabix On the Go that has grown rapidly.
The drink has recently sold its 18 millionth bottle. The company projects says that the beverage brand would now be in the top 20 breakfast brands, having grown 70% in 2016.
The news of the company’s investment was welcomed by Philip Hollobone MP for the Kettering Constituency: “As someone who eats Weetabix every day I am delighted at this new investment in the local economy and am confident that Weetabix has a bright future ahead of it.”
January 30, 2017.