Weetabix to Invest £30 Million in UK Manufacturing
Weetabix Food Company has announced a £30 million capital investment programme across its UK manufacturing sites at Burton Latimer and Corby. The creation of new production capacity by 2018 will significantly raise volumes to match rising sales of the iconic Weetabix biscuits both at home and overseas. The investment will see new jobs created, swelling Weetabix’s global workforce.
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.
Weetabix is the largest breakfast cereal brand in the United Kingdom and has a global footprint spanning Asia, Europe, the Middle East, North America and Africa. Its family of brands includes Weetabix, Alpen, Ready-brek, Weetos, Oatibix and Alpen cereal bars. Weetabix products are exported to 87 countries in Asia (including China), Europe and the Middle East.
The creation of further production capability in Burton Latimer and Corby by 2018 will allow Weetabix to match consumer demand for its popular breakfast cereals. The launch of Weetabix Protein added £7 million to sales in 2016, and was the biggest new cereal launch in the category.
Giles Turrell, chief executive of Weetabix Food Company, says: “We’ve consistently bucked the market, through our innovation and focus on nutritionally strong products that taste great. 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.”
Alongside cereals, Weetabix runs a thriving breakfast drinks business, Weetabix On the Go, which has grown rapidly, recently selling its 18 millionth bottle. As a standalone brand it would now be in the top 20 breakfast brands having grown 70% in 2016.
Weetabix Food Company is reported to have been put up for sale by Bright Food, one of China’s largest food groups. Bright Food acquired 60% of Weetabix Food Company from private equity firm Lion Capital for £720 million in 2012.
