Birmingham-based Food and packaging wholesaler Indus Foods has secured £1.5m from MEIF Maven WM Debt Finance, part of the Midlands Engine Investment Fund.
The loan will enable Indus Foods to create manufacturing units and extend its existing warehousing to improve efficiencies. The funding will also provide investment into the company’s new production hub and support the creation of a number of jobs in the region.
Indus offers a range of services across the foodservice, manufacturing, retail and wholesale sectors, specialising in ethnic foods. Indus is a wholesaler of Asian Foods, including spices, tinned ingredients, oils and flours. They serve around 5,000 retail and foodservice customers and also supply fast food packaging and housewares.
Tariq Areehy, Managing Director of Indus, said: “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 exciting plans ahead and look forward to working with the Maven team to grow the business.”