2 Sisters Food Group plans to inject £150m into its poultry business in order to revolutionise the unit, a move that comes just a week after the Birmingham-headquartered firm announced that it intends to invest £55m into its ready meals business.
This plan was revealed when it published its fourth quarter results that saw a dip in operating profit and sales.
During the 13 week period ending on 1 August 2015, the firm's like-for-like operating profit and sales dropped by 20.3% and 3% to £22.8M and £773.6M respectively, compared with the same period of last fiscal due to tough operating environment.
2 Sisters CEO Ranjit Boparan said that the latest investment is aimed at providing innovative products and better value to consumers.
The firm will also utilise the amount to revolutionise its supply chain.
Boparan was quoted by Expressandstar.com as saying: "We are aiming to further align our poultry business with the needs of our customers, creating world class facilities utilising state of the art technology, and driving efficiency."
Last month, the food manufacturer started up a bio-refinery plant to produce power from potato waste arising from the mashed potato and pie manufacturing lines at its factory in Carlisle, UK.
Claimed to be the first waste-powered plant of its kind in the world to be used in a food facility, it could potentially cut the company's carbon footprint by 20% by 2018.
Additionally, it announced its plans to invest £55m in its meals solution division, which is focused on own-label products, and produces ready meals, soups and sauces for Marks & Spencer out of four factories - Pennine Foods in Sheffield, Rogerstone in South Wales, Carlisle, and Grimsby.
