A Birmingham food company is set to create a manufacturing and production hub after securing £1.5 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 project.
Indus offers a range of services across the food service, manufacturing, retail and wholesale sectors, specialising in ethnic foods.
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.
Managing director Tariq Areehy said: “We are delighted to receive this funding boost to enable us to execute our growth plans.
“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.
“We have some really exciting plans ahead and we are looking forward to working with the Maven team to grow the business.”
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.
“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.”
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.
“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.”
