Manufacturer of natural food ingredient solutions, Plant-Ex Ingredients has secured £9 million in funding from UK investment firm BGF to facilitate its international expansion.
Plant-Ex said the funding would 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 said it had expanded with a new factory in Bristol, with double the capacity of its previous site, and the company said it was “primed to enable further growth within the UK and internationally”.
Plant-Ex has placed a focus on the US market following the launch of a site in Chicago. The company also boasts sites in Poland and Turkey.
Giles Drewett, founder and 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.”
Susan Barratt appointed to the board
Alongside the investment, Plant-Ex has also appointed Susan Barratt as its non-executive chair. Barratt has previously served in roles with the Institute of Grocery Distribution (IGD) and the Department of Health and Social Care.
Drewett continued: “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.”
