TSC plant upgrade to create 50 jobs

TSC, which underwent a 24m management buyout last summer, will spend the money on its soup plant to cook, fill and package its products.

The private equity-backed company said the investment is needed to meet increasing demand from its retail customers, which include three of the UK's top four supermarket chains.

TSC is funding the work from cashflow and the refinancing of an

existing 700,000 facility with Yorkshire Bank.

The company said sales have increased "dramatically" since the buyout with Leeds-based Key Capital Partners and are expected to hit 40m this year, up 15 per cent on last year.

Jonathan Skofic, managing director of TSC, said: "The period following the buyout has been very exciting, with sales growth being achieved among both our supermarket and restaurant and pub customers.

"Key Capital Partners has proved to be a very supportive investor, working in close partnership with us to deliver our ambitious plans for the business."

The company employs 300 people from its base in Scunthorpe.

TSC said it is also investing in the promotion of its fast-growing Glorious! range of fresh soups and sauces, which is endorsed by celebrity chef, Marco Pierre White.