Recipe for success: Plant-Ex secures £9 million investment from
Summary
The funding will 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 has expanded, with a new factory in Bristol thats double the capacity of its previous site and is primed to enable further growth within the UK and internationally.Special focus has also been placed on the US market, following the launch of a Plant-Ex Ingredients LLC in Chicago, earlier this year. In addition to its operations in the UK and US, Plant-Ex has sites in Poland and Turkey.Alongside the investment from BGF, Plant-Exs leadership team has also been bolstered with the appointment to its board of highly experienced non-executive chair Susan Barratt, through BGFs Talent Network. With an impressive career in the food and consumer goods industry, Susan brings a wealth of knowledge to the business, following roles with the Institute of Grocery Distribution (IGD) and the Department of Health & Social Care.Giles Drewett, Founder & CEO of Plant-Ex, said: Having founded this organisation 14 years ago, its been an eventful journey that started in Bristol and has now taken our products to over 50 countries, all over the world.Its a huge privilege to be working in partnership with BGF, and to welcome Susan to our board. 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.The deal was led for BGF by James Skade, Edwin Davies and Louis Hall.