NutreeLife boosts plant-based production in hire-purchase deal

By James Ridler

- Last updated on GMT

NutreeLife acquired new equipment to boost production through a hire purchase deal with Siemens Financial Services
NutreeLife acquired new equipment to boost production through a hire purchase deal with Siemens Financial Services

Related tags: plant-based, Investment

Plant-based snack manufacturer NutreeLife has tripled production and boosted staff numbers with help of a hire purchase agreement from Siemens Financial Services (SFS).

Under the agreement, NutreeLife was able to acquire the equipment it needed to improve its production line immediately with no upfront costs. Instead, the cost would be spread over five years in regular payments – NutreeLife would then own said equipment at the end of the agreement.

Choosing to hire purchase also meant the manufacturer qualified for the Government’s super-deduction tax initiative – companies investing in qualifying new plant and machinery assets are able to claim 130% of the equipment’s value in one year.  

In high demand

Managing director and chief executive Patrick Mroczak said the decision that in order to invest in the next stage of the business’s development, it needed to equipment to meet demand, but also preserve cash flow to deal with the volatility of the pandemic.

“Despite the ups and downs of the pandemic, the new production line has helped us to keep things moving,”​ Mroczak continued. “As demand rises we’ve been able to take on much more staff and use our working capital towards stockpiling raw materials when needed.”

Founded in 2017, NutreeLife is a rapidly growing company that produces vegan protein bars, snacks and other healthy vegan products. Following a significant increase in demand, the manufacturer wanted to invest in a new production line.

Siemens Financial Services

Kirsty Talmage-Rostron, business development manager at SFS, added: “It’s always exciting to work with an innovative award-winning manufacturer like NutreeLife.

“Despite the challenges of COVID-19, we’ve been able to help the business rapidly develop and look forward to continuing to support this growth strategy as the business expands into new markets.”

Meanwhile, private equity firm LDC has made a minority investment in fine foods manufacturer and distributor Bramble Foods​ 'to support its organic and acquisitive growth strategy'.

 

Related topics: Operations, Ambient foods

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