Princes, the UK-based food and drink group, has announced plans to invest in its domestic production.

The company, owned by Japanese conglomerate Mitsubishi, is to install a “high-speed” cooker for baked beans at its site in Wisbech in Cambridgeshire.

Princes said the move would “increase production capacity and operating speed” at the facility. Asked to quantify the rise in production, a spokesperson for Princes said the company did not have a figure for the increase.

The investment will also reduce energy use during manufacturing. The factory produces canned and pouched products including baked beans, soups and pasta.

Last week, Princes announced investment in Europe, with the opening of a sales and marketing office in France. The office is Princes’ fifth in Europe. The company, owned by Japanese conglomerate Mitsubishi Corp., is based in Liverpool and has offices in the Netherlands, Italy and Poland.

Yesterday, Moy Park, the meat processor owned by Brazil’s JBS, announced plans to close a plant in Wisbech.