The company's site at Debenham in Suffolk will be redeveloped to streamline production and increase storage space for its cider and vinegar ranges.
Former PJ's Smoothies managing director Peter Moore has also been employed by brothers and directors Barry and Henry Chevallier Guild to help drive the business forward.
Barry said: "We have decided to accelerate the development plans for Aspall and set some ambitious growth targets over the next five years. Peter brings extensive experience in business expansion and his skills will help us to achieve our goal, whilst taking our workforce with us and maintaining our focus on quality."
The company is forecasting growth of 140 per cent over the next year and is also planning to launch four new products in the premium cider category over the next 12 to 18 months to compliment the existing range - Aspall Suffolk Cyder, Premier Cru, Organic and Peronelle's Blush, a blend of Suffolk Cyder and blackcurrant liqueur.
Sales and marketing director Geoff Bradman said: "Since Peronelle's Blush was launched in April it has exceeded all our expectations and we have some new products we would like to launch. However, we would like to think of them as adding value to the category. They are not about volume chasing."
Aspall has been producing cyder at the same site in Suffolk since 1728 where there are currently 90 acres of apple orchards. The company is currently run by the eighth generation of the Chevallier Guild family.