The firm produces a range of high quality artisan part baked sandwich breads and speciality rolls for the Irish and UK Retail and Food Service markets.
Supported by the Department of Business, Enterprise and Innovation through Enterprise Ireland, the planned Panelto Foods expansion has been part financed by a long-term €14m debt facility through the Ireland Strategic Investment Fund (ISIF).
The planned expansion is expected to come on stream in 2018 and will be used to service extra demand from customers and changing consumer needs in Ireland and international markets.
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Minister for Business, Enterprise and Innovation, Heather Humphreys TD said: "The expansion of Panelto Foods facility and the creation of 110 jobs in Longford, in addition to 100 construction jobs, is a hugely positive development for Longford and the surrounding areas. The company's growth is export-led, and this investment in product development and production capacity will further fuel export growth into the future."
Julie Sinnamon, Enterprise Ireland CEO, said: "Enterprise Ireland is a long-standing partner of Panelto Foods, supporting the company to innovate, scale internationally and create jobs in Ireland. The company’s commitment to its growth and expansion represents the vigour and ambition of Irish companies to perform and compete internationally. We are delighted to see this ambition translate into the creation of 110 additional new jobs in the town in the coming year bringing direct employment in the Panelto Foods facility to 260 people."
(CD/MH)
