Tue, 05 Dec 2023 | BUSINESS SALE
JF Renshaw, a manufacturer of food ingredients, has been sold out of administration to an international bakery ingredients group. Liverpool-based Real Good Food plc and JF Renshaw Ltd fell into administration on December 4 2023.
Rick Harrison and Will Wright of Interpath Advisory were appointed as joint administrators to the companies and concluded a sale of JF Renshaw’s business and assets to British Bakels Ltd, a subsidiary of the Bakels group.
Real Good Food plc and JF Renshaw Ltd, which primarily manufacture food ingredients for the baking sector, had been hit by adverse trading conditions. Directors undertook a strategic review to determine options for the company, including a potential sale of the business and assets or shares of JF Renshaw and possibly seeking external funding.
However, given the limited timeframe the business faced, it was decided it would not be possible to conclude a solvent transaction, leading to the directors seeking the appointment of administrators. Immediately upon their appointment, the joint administrators completed a sale JF Renshaw’s the business and assets, with all employees transferring to British Bakels as part of the deal.
British Bakels Managing Director James Cawthorne commented: "We are delighted that JF Renshaw, internationally known as a top quality producer of icings and marzipan, has joined the Bakels Group, bringing together two well-known brands with a combined history of close to 250 years. We look forward to working with our new colleagues to develop the concept of ‘Renshaw from Bakels’."
Joint administrator and Interpath Advisory Managing Director Rick Harrison said: "With a heritage dating back 125 years, JF Renshaw is well known for its range of baking ingredients and cake decorations. We’re pleased to have been able to conclude this transaction which will enable trade to continue, and which safeguards employment for its workforce in Liverpool."
Find out more about the challenges facing companies in the UK's food industry
A stunning village close to Crook, near Durham. Situated 5 miles north of Bishop Auckland, a market town known as the ‘gateway to Weardale’, Crook is easily accessed via the A68 and A689. Roddymoor is situated to the north of Crook and The Farrers A...
Instruction for the purchase of a locally celebrated cocktail bar and restaurant located in affluent Cheshire.
Established in 2018 as a small independent coffeehouse, we now serve around 20,000 customers each year with that number expected to grow. The business has been built from the ground up, ensuring solid foundations have been put into place to allow for...
Plymouth-based engineering firm Applied Automation (UK) has ...
Leading UK independent builders’ merchant MKM has acqu...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.