• Swindon & Wiltshire Manufacturing
• Thursday September 12 2024
• Author Name: Peter Davison

Natural food business Plant-Ex secures £9 million funding

Bristol-based natural food manufacturer Plant-Ex Ingredients has secured a £9 million minority investment from SME equity investor BGF to drive its international expansion, with a focus on the US market.

The funding will help to underpin significant international growth for the Bristol-based business, which specialises in the development, manufacture and distribution of natural food colours, extracts and flavours.

Founded in 2010, Plant-Ex supplies food manufacturers across the globe, directly through its own facilities and via its network of distribution partners. In the last month, Plant-Ex has expanded, with a new factory in Bristol that’s double the capacity of its previous site and is primed to enable further growth within the UK and internationally.

Special focus has also been placed on the US market, following the launch of a Plant-Ex Ingredients LLC in Chicago, earlier this year. In addition to its operations in the UK and US, Plant-Ex has sites in Poland and Turkey.

Giles Drewett, founder & CEO of Plant-Ex, said: “Having founded this organisation 14 years ago, it’s been an eventful journey that started in Bristol and has now taken our products to over 50 countries, all over the world.

“It’s a huge privilege to be working in partnership with BGF, and to welcome Susan to our board. Plant-Ex has an exceptional portfolio of products, with some world-beating expertise in product development and manufacturing.

“Having the funds in place, combined with strategic support from BGF and Susan, means that the next major developments can be planned and executed to deliver against the high standards expected by our international customer base.”

James Skade, investor at BGF, said: “The rate at which Giles and the team have been able to grow Plant-Ex in a relatively short space of time is testament to their passion and hard work.

“As Giles and his team look to expand further into international markets, there’s a huge amount of positive impact they can have on consumers, in terms of providing natural, sustainable colours, flavours and extracts in the global marketplace, and we look forward helping them fulfil their objectives.”

The deal was led for BGF by James Skade, Edwin Davies and Louis Hall. Advisers for BGF were James Taylor and Oli Jacquelin, Osbourne Clarke (legal); Robert Brown, Claritas (tax); Tim Owen, Oliver North and James Barton, Oghma Partners (commercial).

Latest: Capital investor pledges £400 million to South West businesses