120 jobs on the way as Europe’s largest oat mill takes shape
A Northamptonshire-based food manufacturing company is set to create over 100 jobs after securing a £15m asset finance package from HSBC UK.
Navara Oat Milling is a joint venture between crop production and grain marketing business Frontier Agriculture, farmer-owned cooperative Camgrain and ingredient manufacturer Anglia Maltings Holdings (AMH).
Kettering-based Navara was established to meet the increasing demand for oat-based products as more and more consumers switch to a plant-based diet.
The funding will be used to create the firm’s new processing facility, which is expected to support 120 jobs between construction and operation.
The plant, which will be the largest oat mill in Europe, is expected to be completed next year.
Mark Aitchison, managing director of Frontier and chairman of the new joint venture, said: “There’s increasing demand for oat ingredients in healthy food products and non-dairy drinks. Our collective vision is to build and grow a dedicated oat supply chain, bringing farmer and food manufacturer closer together and delivering improvements that benefit each sector and the environment.
“The support from HSBC UK has been invaluable in enabling us to bring our plans to life.”
Allan Wilkinson, UK Head of Agrifoods at HSBC UK, added: “The demand for oat-based products has increased heavily due to the proven health benefits, with many switching to plant-based products as part of their diet. We’re delighted to be supporting this new venture, which brings together three of our existing clients, boosting oat production across Europe.”
