Investment programme key to support rapid demand for popcorn and other healthy snacking products.
Leicester-based Savoury & Sweet Limited (“S&S”), one of the UK’s largest manufacturers of popcorn and other healthy snacking products for blue chip brands and retailers, today announces a multi-million pound investment programme. The funding package, from Permira Credit Solutions II (“PCS2”), a fund advised by Permira Debt Managers (“PDM”), sees a multi-million pound investment into the company which will enable S&S to invest heavily in both state of the art popcorn manufacturing equipment and R&D.
Explaining the rationale for the deal, Tinku Durrani, CEO commented “I am hugely excited to be able to announce this transaction which has been months in the making. I recognised the demand for popcorn and other health-related snacking products was rapidly increasing. This investment enables S&S to support its customers in driving innovation in the rapidly expanding popcorn market. Popcorn is no longer restricted to the cinema market – we are seeing consumers really take to popcorn in their daily eating routine as it is both healthy and there are lots of new flavours coming to market. Our investment programme enables us to now drive real product innovation and we have some exciting flavourings and other developments in the pipeline which consumers will see in early 2016”.