Natco owner buys Trigon out of administration
Financial advisory and investment banking firm Duff & Phelps, which managed the administration process, claimed the deal had saved 110 jobs at the nuts and snacks firm, which is based at Aintree in Liverpool.
The value of the transaction remains undisclosed.
Trigon Snacks entered administration on September 10 after suffering cash flow problems, setting off joint administrators David Whitehouse and Steven Muncaster on a desperate race to save the business. Shortly after that, it was forced to dismiss 64 workers.
Rescue plan
Trades union Unite waded into the process last week, appealing to the government’s Department for Business, Innovation & Skills to broker a deal for state-owned bank RBS to help fund a rescue plan.
The union expressed fears that if Trigon was sold to a large snacks manufacturer such as Intersnack, which has operations in the UK and overseas, it would be broken up.
“This sale sees the continuation of a well-established and recognised brand and business,” said Whitehouse. “It is a great result for the business’s 110 strong workforce, who I would like to thank for their support over the last few difficult weeks.”
Annual sales of £30M
Trigon Snacks, which also imports supplies for most UK retailers’ own-label nuts, chalked up annual sales of £30M and was also the licensee for Planters peanuts.
The firm can process at least 6,500t of nuts every year and was at one stage making more than 200 products at its 1,672m2 plant. It is well-versed in a range of snack processing capabilities, including nut coating, dry roasting and honey roasting.
The company has developed a range of packaging formats, such as resealable packs, flow wrapping and block-bottomed bags.
Natco Foods supplies a range of ethnic foods, including herbs and spices; pappadoms and snacks; pickles; rice; and nuts and seeds to the food retail and cash and carry arenas.
