Australian baked good firm, The Cake Syndicate, has said it is seeking an investor to fund capital expansion and growth into Asia.

The firm has just announced a jobs boost as part of a facility improvement at its Susan Day Cakes facility in Hallam.

The 51 new jobs are part of an A$8m capital investment program being undertaken by the company, with the 5,000 sq metre facility in Hallam being reconfigured and improved.

In addition TCS said it is seeking a cornerstone investor to fund further capital expansion and realise its Asia growth plans for its Susan Day and Big Sister brands.

The CEO of TCS, Gus Cantone said: "We are experiencing strong growth in retail and food service in Australia and see huge opportunities in the Asian market which we have already tested. We have available capacity to meet the needs of new and existing customers and will aggressively pursue these export markets. In addition to this, we have identified several small acquisitions, the production from which can drop straight into our existing capacity."

Potential investors, it has said, could include Bright Food's Manassen Foods, Patties Foods and Campbell Soup Co's Arnotts Biscuits. Offshore investors could include Unilever, Britannia Industries and PZ Cussons.

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By GlobalData