FRANCE: Europe Snacks to invest in capacity expansion
France's Europe Snacks is investing EUR17m (US$22.1m) in increasing production capacity, partly as a result of securing new export markets in Europe, the company has confirmed.
Europe Snacks is investing EUR5m in a second production line for crackers, scheduled to enter service in 2014. It will also extend the EUR10m plant that opened in February 2012 and turns out 35m packets of crackers annually.
The remaining EUR12m will finance the construction of a 2,500sq m building to house a fourth production line for the manufacture of stackable snack crisps which will raise annual capacity to 75m tubes.
The third production line, costing EUR6m, was at full capacity in December 2012 due to new business in the UK, Germany and Italy.
Europe Snacks, which specialises in supermarket private-label apéritif snacks, is targeting sales of EUR90m in 2013. Pan-European private equity firm IK Investment Partners has a majority stake in the firm.
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