UK-based Crediton Dairy is investing GBP12m (US$15.8m) to expand its milk-processing capabilities and to fund the development of “enriched functional milks”.
Located in the Devon town of Crediton in south-west England, the dairy firm instigated a management buyout in 2013 and has since ploughed GBP14m into the business.
The additional funds will see “significant expansion in Crediton’s processing capacity and capabilities, in line with its strategic focus of being a recognised leader in the production of added-value milk drinks”, the dairy company said in a statement.
Crediton will also create a second production hall with two new high-speed fillers, taking the total at the plant to seven. The company is seeking to innovate new products using new production techniques and packaging formats.
The company supplies branded and own-label milks and milk drinks to the UK’s major retailers including Sainsbury’s, Tesco, Asda, Morrisons, The Coop and online retailer Ocado.
Last year, Crediton became the fresh milk processor for New Zealand’s A2 Milk Co. after taking the contract from German dairy giant Müller, and currently now sells the A2 brand in the UK. Other products also include Moo flavoured milks, functional milks such as Flora Pro Activ, and its branded Arctic iced coffee range.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
Building work on the new production hall will start in March and is expected to be completed in the Autumn.