A Birmingham food company is set to create a manufacturing and production hub after securing \u00a31.5 million in new funding.<\/p>\n
Indus Foods, which is based in Sparkbrook, is a wholesale supplier of products to the food and drink industry.<\/p>\n
Indus Food, founded in 1962, said a number of jobs would be created by the new project.<\/p>\n
Indus offers a range of services across the food service, manufacturing, retail and wholesale sectors, specialising in ethnic foods.<\/p>\n
The company is a wholesaler of Asian foods which include spices, tinned ingredients, oils and flours, serving around 5,000 customers and also supplies fast food packaging and housewares.<\/p>\n
Managing director Tariq Areehy said: “We are delighted to receive this funding boost to enable us to execute our growth plans.<\/p>\n
“We are looking forward to modernising our warehouse and creating a manufacturing and production hub where whole spices will be prepared under our own brand label.<\/p>\n
“We have some really exciting plans ahead and we are looking forward to working with the Maven team to grow the business.”<\/p>\n
Raj Minhas, investment manager at Maven Capital Partners, added: “Indus is a well-established and profitable business that is looking to revamp its building to allow it to operate more effectively and efficiently as part of its growth plan.<\/p>\n
“We are delighted to provide the business with this loan to help it pursue these ambitious plans and look forward to working with Tariq and the team.”<\/p>\n
Ryan Cartwright, senior manager at the British Business Bank which operates the MEIF, said: “The Midlands is home to a range of ambitious businesses looking to grow.<\/p>\n
“With investment from MEIF, small business like Indus Foods are able to fund expansion projects, create new jobs and in turn support the growth of the region’s economy.”<\/p>\n
<\/p>\n
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A Birmingham food company is set to create a manufacturing and production hub after securing \u00a31.5 million in new funding. Indus Foods, which is based in Sparkbrook, is a wholesale supplier of products to the food and drink industry. Indus Food, founded in 1962, said a number of jobs would be created by the new […]<\/p>\n","protected":false},"author":1,"featured_media":30104,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[41,37,3,112],"tags":[],"class_list":["post-30103","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-local-news","category-news","category-top-stories"],"_links":{"self":[{"href":"https:\/\/www.theasiantoday.com\/index.php\/wp-json\/wp\/v2\/posts\/30103","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.theasiantoday.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.theasiantoday.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.theasiantoday.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.theasiantoday.com\/index.php\/wp-json\/wp\/v2\/comments?post=30103"}],"version-history":[{"count":0,"href":"https:\/\/www.theasiantoday.com\/index.php\/wp-json\/wp\/v2\/posts\/30103\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.theasiantoday.com\/index.php\/wp-json\/wp\/v2\/media\/30104"}],"wp:attachment":[{"href":"https:\/\/www.theasiantoday.com\/index.php\/wp-json\/wp\/v2\/media?parent=30103"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.theasiantoday.com\/index.php\/wp-json\/wp\/v2\/categories?post=30103"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.theasiantoday.com\/index.php\/wp-json\/wp\/v2\/tags?post=30103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}