LT Foods opens new facility in Harlow to tap £1 billion UK rice market

LT Foods aims to tap into the UK’s £1 billion rice market with an initial investment of £7 million and plans for further investment up to £50 million.

• EasternEye
• 18 July, 2024

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By: EasternEye

LT Foods, an Indian-origin global FMCG company, has opened a new facility in the UK. The facility aims to meet the growing demand for rice and rice-based food products.

The new 100,000 square-foot facility in Harlow will use the latest technology to offer both branded and private-label products.

LT Foods aims to tap into the UK’s £1 billion rice market with an initial investment of £7 million and plans for further investment up to £50 million.

The company expects annual revenue of £50 million over the next two years, targeting £100 million within five years. The facility will also create local jobs.

LT Foods has partnered with four leading UK retailers and plans to expand further. The facility has a production capacity of 60,000 tonnes of rice per year.

Vijay Arora, chairman and managing director, said, “We are very excited about our newest facility in the UK. It is an important market for our future growth. LT Foods’ long-term goals include solidifying its market presence in the UK, becoming a leader in the rice and rice-based food segment, and continually innovating to meet the evolving demands of consumers. This new facility is a critical step in achieving these objectives.”

Ashwani Arora, managing director and CEO, said, “Our stakeholders have always been at the heart of our success. By expanding into the UK, we aim to bring our high-quality offerings closer to consumers while ensuring that we continue to provide exceptional value to our stakeholders. The UK presents a unique opportunity for us to expand our market reach and cater to a diverse consumer base.”

Vikas Magoon, managing director of LT Foods Europe BV, said, “The opening of this facility in the UK is a testament to our commitment to meeting the rising demand for high-quality rice products among UK consumers. This strategic expansion aligns with our vision to bring our quality offerings closer to our consumers. The UK market presents a tremendous opportunity for LT Foods to grow and innovate. With our new facility in Harlow, we are well-positioned to leverage this potential, ensuring efficient delivery of our food brands and enhancing our market presence.”