1. ITV Report

Weetabix to invest £30m in UK manufacturing sites

Weetabix has announced it is to invest £30 million in its UK manufacturing sites at Burton Latimer and Corby in Northamptonshire.

The cereal company says the money will boost production capacity and create more jobs - but the details are being kept under wraps.

It is not yet known how many jobs will be created - or if they will even be in Northamptonshire.

"The most important thing is we're increasing investment in our core plants at Burton Latimer and Corby.

"What it will also do is give us incremental capacity for new products, and we're going to phase that in over the next couple of years.

"There will be be additional jobs associated, particularly with the new capacity that we bring in."

– Giles Turrell, Chief Executive, Weetabix Food Company
70 million wheat biscuits are produced at the Burton Latimer factory every week. Credit: ITV News Anglia
wheat biscuits produced every week at Weetabix's Burton Latimer factory
countries that Wheetabix biscuits are shipped to across the world

Weetabix's UK market share for cereals and drinks rose from 15.3% to 16.4% in the past year.

Several firms, including Nestle and Pepsico, are said to be interested in buying the company, which is currently up for sale by its Chinese owners.

It is not yet know whether the new jobs will be at Weetabix's Northamptonshire factories. Credit: ITV News Anglia

The weakening pound is being blamed for an increase in production costs, so the price of Weetabix may go up by later this year. Despite this, the investment is being welcomed.

"I think it's a smart moment. Everyone is cutting down on investments because of the uncertainty - and here is someone who is putting money into a region, trying to enhance the productivity of the region."

– Professor Stelios Kavadias, Judges Business School, University of Cambridge
The Weetabix brand was born in Northamptonshire in 1932. Credit: ITV News Anglia