Plant-Ex Ingredients, a UK producer of natural plant-derived flavours, colours, and extracts, has secured £9 million in funding from major investor BGF.
The minority investment will help Plant-Ex to expand internationally, with a focus on the US market. The company established a division in Chicago earlier this year, and also has sites in Poland and Turkey.
Within the last month, Plant-Ex has opened a new facility in Bristol with twice the capacity of its previous site; this should allow for further growth within the UK and internationally. The company’s products are already available in over 50 countries worldwide.
Plant-Ex has also announced the appointment of Susan Barratt as non-executive chair. Barrett is highly experienced in the food and consumer goods industry, having previously held roles with the Institute of Grocery Distribution (IGD) and the Department of Health and Social Care. She has been appointed alongside the investment through the BGF talent network.
“World-beating expertise”
Plant-Ex was founded in 2010, and has since seen rapid expansion. The company supplies food manufacturers across the globe through its own facilities and a network of distribution partners. In 2022, Plant-Ex invested £1.25 million to improve service and increase customer satisfaction, with the aim of growing the business.
“It’s a huge privilege to be working in partnership with BGF, and to welcome Susan to our board,” said Giles Drewett, founder and CEO of Plant-Ex. “Plant-Ex has an exceptional portfolio of products with some world-beating expertise in product development and manufacturing. 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.”
