2 Sisters Food Group plans to invest £150m into its poultry unit, an announcement that comes a few days after the Birmingham-based company stated that it intends to invest £55m into its ready meals business.
The investment plan was disclosed at the release of its fourth quarter results.
During the 13-week period ending on 1 August 2015, the company's like-for-like operating profit and sales dropped by 20.3% and 3% to £22.8M and £773.6M respectively, from the last corresponding period due to tough operating environment.
2 Sisters CEO Ranjit Boparan said that the investment in poultry business is aimed at providing innovative products and better value to consumers.
"We are aiming to further align our poultry business with the needs of our customers, creating world class facilities utilising state of the art technology, and driving efficiency."
The firm will also utilise the amount to revamp its supply chain.
Boparan was quoted by Expressandstar.com as saying: "We are aiming to further align our poultry business with the needs of our customers, creating world class facilities utilising state of the art technology, and driving efficiency."
In September, the food manufacturer started up a bio-refinery plant to produce power from potato waste arising from the mashed potato and pie manufacturing lines at its factory in Carlisle, UK.
This was claimed to be the first waste-powered plant of its kind in the world to be used in a food facility and could slash itss carbon footprint by 20% by 2018.
Further, it announced its intention to invest £55m in its meals solution division, which is focused on own-label products, and produces ready meals, soups and sauces for Marks & Spencer out of four factories - Pennine Foods in Sheffield, Rogerstone in South Wales, Carlisle, and Grimsby.
Image: 2 Sisters Food Company plans to bolster its poultry business. Photo: Courtesy of lkunl/FreeDigitalPhotos.net.
