Chief executive Rob Burnett said the project involves establishing new production facilities and upgrading existing plant and equipment in order to meet increasing demand for the extensive range of meat-free products, crumbles and hot eating desserts made at the Fakenham site.
"It is great news for the local economy as we will be able to provide long-term employment and excellent career prospects for people looking to join one of the UK's most progressive food companies," Burnett added.
The project is expected to be completed by the autumn, and will boost the number of jobs at the factory from its current 245 to 395.
Hain Daniels product range includes the Linda McCartney meat-free range as well as Johnson's Juices, New Covent Garden Soup, and the Farmhouse Fare range of traditional desserts.