PRIME Minister David Cameron stopped to taste some hot porridge in Fife yesterday as PepsiCo revealed plans to invest £14.4 million in its Quaker Oats factory in Cupar.
The UK division of the global food and drink giant said the investment will lead to the creation of 30 jobs and will help it to meet growing demand for hot cereal.
The firm said the latest planned spending makes a total investment of £51m in expanding the site over the past decade, including £8.5m last year.
The Cupar factory is home to PepsiCo’s Quaker Oats and Scott’s Porage Oats. Construction work began earlier this month on a new factory to house a high-speed sachet line and bagging line.
It is estimated that the UK porridge market is worth £157m, and has grown by 30 per cent over the past two years. Sales of PepsiCo’s instant porridge product, Oat so Simple, has increased 44 per cent over the past two years, the company added.
Exports have also risen 18 per cent over the past five years driven by demand for Quaker Oats in the Middle East.
Richard Evans, president of PepsiCo UK, Ireland & South Africa, said: “More and more people are eating porridge and our investment at Cupar means we’ll be able to satisfy the increasing demand at home and abroad for years to come.
“The porridge market has seen phenomenal growth and more and more people are opting for hot cereals for breakfast all year round – whatever the weather.
“Overseas demand for our oats is also increasing, and we see this as a key area for future growth.
“Quaker has been milling oats at Cupar since 1947 and we are very pleased to invest again in our site to protect its heritage and grow the Quaker Oats business.”
Cameron said: “Quaker and Scott’s Porage Oats have a long heritage here in the UK and PepsiCo’s further investment is a welcome example of its continued commitment to Cupar and to Britain.
“The company’s continued success is testament to the skill, expertise and hard work of the people here at Cupar and I’m delighted to see the business going from strength to strength.”
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