The investment, which builds on last year’s £8.5m spend, makes a total of £51m that parent company PepsiCo has spent on the site over the past decade to meet the surge in consumer demand for porridge.
With the UK porridge market now worth £157m, the hot cereal market has grown by 30% over the past two years. For PepsiCo, the public’s appetite for quick and easy porridge has helped drive growth with value sales of Oat So Simple sachets increasing 44% over the last two years.
In addition to growth in the UK, PepsiCo has also seen its oats exports rise by 18% over the past five years as demand for Quaker Oats increases in the Middle East.
Richard Evans, president of PepsiCo UK, Ireland & South Africa, said: “More and more people are eating porridge all year round and our investment at Cupar means we’ll be able to satisfy the increasing demand at home and abroad for years to come.
“The porridge market has seen phenomenal growth and what’s particularly interesting is that more and more people are opting for hot cereals for breakfast all year round – whatever the weather. Overseas demand for our oats is also increasing, and we see this as a key area for future growth. Quaker has been milling oats at Cupar since 1947 and we are very pleased to invest again in our site to protect its heritage and grow the Quaker Oats business.”
Prime minister David Cameron said: “Quaker and Scott’s Porage Oats have a long heritage here in the UK and PepsiCo’s further investment of £14.4m is a welcome example of its continued commitment to Cupar and to Britain.
“The company’s continued success is testament to the skill, expertise and hard work of the people here at Cupar and I’m delighted to see the business going from strength to strength, expanding the site, creating jobs, and increasing their exports abroad.”
Source: PepsiCo
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