Pre-pack rescue deal saves 100 jobs at food manufacturer
Preston-based Fylde, Fresh & Fabulous Group (FFF), one of the UK’s leading potato growing and processing businesses, has rescued Troy Foods in a pre-pack administration deal, saving more than 100 jobs.
Leeds-based vegetable processing manufacturer Troy Foods, a fourth-generation family business, had filed a notice to appoint administrators last week.
FFF, established in 2005, generates annual sales of £14m from supplying ready meal manufacturers, the food service sector and more than 500 fish and chip shops with a range of peeled potato products. It also supplies heat and electricity to more than 600 homes through its Biogas plant near Preston.
104 employees have transferred to FFF as part of the transaction which was led by a team from Interpath Advisory and Addleshaw Goddard. FFF was advised by Napthens.
Neil Morley, director at Interpath Advisory, said: “We are pleased to have concluded this transaction which secures the future of the business by providing a new platform upon which it can move forward.”
Colin Bradley, director at FFF, said: “We have known and respected Troy Foods for many years. It is a natural fit for our already established business.”
Troy Foods (Salads) Limited is not part of the transaction and continues to trade under its existing management and ownership.