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Meadow Foods to make multi-million investment at Peterborough
Meadow Foods, the UK’s largest supplier of added-value dairy ingredients for the food industry, has announced a multi-million-pound investment in new land and facilities as the company seeks to expand its dairy manufacturing site in Peterborough. The new development follows strong demand for its products and is expected to create a further 50 jobs when complete.
The Peterborough site, initially acquired by Meadow Foods in 2009, is the home of their Fresh Ingredients division, where each year they manufacture more than 85,000 tonnes of cream, crème fraiche and yogurt for food manufacturing businesses as well as the food service sector. Meadow Foods has also recently launched a range of custards from the Peterborough site.
The investment has been made possible by a new strategic investment from Exponent announced on 1st August. Exponent is a UK based private equity firm who have invested in Meadow Foods to help deliver their ambitious growth plan through organic expansion and acquisition.
The new investment has enabled Meadow Foods to acquire the land adjacent to the current site – doubling the acreage from 2.5 acres to 5 acres. The new land will allow the business to expand its product capabilities and increase capacity by more than 60% to meet customer demand as well as provide the option for developing new lines. A Customer Innovation Centre, as well as improved employee facilities, will also be added.
Mark Chantler, Meadow Foods CEO said: “The expansion of our factory at Peterborough is a key part of our strategic growth plans. We have doubled our sales volumes at Peterborough in the last 5 years and have added to our product range with the addition of fresh custards. This development is essential to meet demand and allow us to increase our product lines and capabilities. Bringing new investment and jobs to the area is also illustrative of our commitment to the region and the product range we make there.”
Meadow Foods’ Peterborough facilities are BRC Global standard and ISO 18001. £3 million was invested in the site last year to further automate the plant, increase capacity and improve efficiency, quality and service.
Meadow Foods is the UK’s largest independently owned dairy group and leading supplier of milk based dairy ingredients to the food industry. Meadow Foods currently handles more than 650 million litres of milk each year direct from over 650 farmer suppliers from across the North of England, Midlands and North & West Wales. The company, founded in 1992, operates from factories in Chester, Peterborough and Holme-on-Spalding Moor and now employs more than 300 people.