Plant-Ex Ingredients, a Bristol-based manufacturer of natural food ingredients, has secured a £9m minority investment from growth finance group BGF. Founded in 2010, Plant-Ex employs over 110 people and supplies food manufacturers in more than 50 countries. The company develops and distributes natural food colours, extracts, and flavours, including antimicrobials and preservatives for various food sectors.

The new investment follows a £3.3m funding package from Lloyds Bank last year, which was used to expand production capabilities and resources. This included doubling the capacity of its Avonmouth factory and enhancing its plants in Poland and Turkey. Plant-Ex has also focused on the US market, launching operations in Chicago earlier this year.

BGF's investment has also led to the appointment of Susan Barratt as non-executive chair through BGF’s talent network. Barratt brings extensive experience from the food and consumer goods industry, having worked with the Institute of Grocery Distribution and the Department of Health and Social Care.

Plant-Ex founder and CEO Giles Drewett expressed excitement about the partnership with BGF and the addition of Barratt to the board. He highlighted the company's exceptional product portfolio and expertise in product development and manufacturing. Drewett emphasized that the new funds and strategic support will enable Plant-Ex to meet high international standards.

BGF investor James Skade praised the rapid growth of Plant-Ex, attributing it to the team's passion and hard work. He noted the potential positive impact on consumers through the provision of natural, sustainable food ingredients and expressed eagerness to support Plant-Ex's international expansion.

Legal and commercial advice for the deal was provided by Osborne Clarke, Claritas, and Oghma Partners. BGF, the largest investor in the UK and Ireland, has invested over £600m in South West businesses since opening in Bristol in 2011.