Cereal giant makes Â£30 million investment at sites in Burton Latimer and Corby
Weetabix Food Company has announced a Â£30 million capital investment programme across its UK manufacturing sites in Burton Latimer and Corby today (Monday).
Bosses say the creation of new production capacity by 2018 will significantly raise volumes to match rising sales of the Weetabix biscuits both at home and overseas.
The investment will see new jobs created and comes on the back of Weetabix’s UK market share for cereals and drinks rising from 15.3 per cent to 16.4 per cent in the past year.
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.
The news was welcomed by Philip Hollobone, MP for the Kettering constituency, who said: “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.”
Giles Turrell, CEO of Weetabix Food Company, said: “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 breakfast drinks business, Weetabix On the Go, which has grown rapidly, recently selling its 18 millionth bottle.
Following the announcement, Cllr Andre Gonzalez De Savage, Northamptonshire County Council deputy leader and portfolio holder for public protection, said: “Northamptonshire County Council welcomes the decision by Weetabix of Burton Latimer to invest £30 million in expanding its production capacity by 2018.
“The county council further welcomes the vote of confidence in the buoyant, Northamptonshire economy, with the significant creation of new jobs, and the enhanced prospects for the county’s farming industry, which supplies the bulk of Weetabix’s food material inputs.
“Northamptonshire’s economy continues to grow strongly and the unemployment rate is the lowest in the East Midlands.”