Cereal manufacturer Weetabix, which is this year celebrating its 80th birthday, is to invest £20 million in upgrading its UK and US factories.
Weetabix has announced the plans to improve production facilities and said the money will be used to upgrade the factory at Burton Latimer (its headquarters), as well as sites in Corby and Ashton-under-Lyne in the UK, and Toronto and Boston in North America.
The cereals giant, owned by private equity firm Lion Capital, said early reports from investment at Burton Latimer had shown a production gain of 25%, as well as reduction in waste and energy consumption.
Weetabix also makes the Alpen, Ready Brek and Oatibix cereals and recently launched a new product, Weetabix Golden Syrup. At the end of last year Lion Capital, refinanced debt in the order of£900m.