8 September 2008 - Breakfast cereal producer Dailycer is investing 40 million euro over 4 years in its Faverolles production facility located in the Somme department, in France, reports the French financial media.
The Faverolles facility, which produces multi-grain and bran flakes as well as fruit & fibre, will be expanded to host extra production and cater for a growing European demand for its cereals. It is expected that an extra 50 jobs will be created at the plant, which currently employs 450 people, adds the media.
With an annual production of around 75,000 tons, Dailycer is one of the largest manufacturers of breakfast cereals and cereal bars for private label and business to business in Europe. Besides the Faverolles site, Dailycer has facilities in Deeside in the UK and in Tilburg in the Netherlands.
The company, which saw its turnover grow to 117 million euro in 2007, is aiming for 140 million euro this year after the Faverolles site is expanded.
Formerly-owned by Wessanen, Dailycer was acquired by private equity firm One Equity Partners and De-vau-ge of Germany. The group, with a workforce of 2,000, is expecting its 2008 turnover to amount to 500 million euro.
