Food manufacturer’s rescue deal saves 100 jobs
Leeds-based Troy Foods has been rescued in a pre-pack administration in a move which saves more than 100 jobs.
The vegetable processing manufacturer has been bought by Fylde, Fresh & Fabulous Group (FFF).
Troy Foods, a fourth-generation family business, had filed a notice to appoint administrators last week.
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.”
FFF, established in 2005, is one of the UK’s leading potato growing and processing businesses, 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 over 600 homes through its Biogas plant near Preston.
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.