GRH Food Company bought out of administration

By James Ridler contact

- Last updated on GMT

GRH Food Company has been bought out of administration by Futura Food UK
GRH Food Company has been bought out of administration by Futura Food UK

Related tags: Dairy

Welsh dairy processor GRH Food Company has been bought out of administration for an undisclosed sum, securing the future of dairy production in Snowdonia.

Gloucestershire-based Futura Food UK has purchased the company four months after GRH fell into administration due to cash flow issues​, which saw the manufacturer make 82 members of staff redundant.

Operations at GRH’s site at Snowdonia Business Park are planned to restart in the coming months. The business will be fully incorporated into Futura's supply chain.

‘Revive a major employer’

Commenting on the sale, Paul Dumbell, joint administrator and restructuring director at KPMG, said: “The deal with Futura provides a significant opportunity to revive a major employer in Snowdonia and continue a proud history of Welsh cheese manufacturing.

“With the backing of a major international dairy firm, Futura is looking to restart operations as soon as possible, giving a considerable boost to the local economy and a vote of confidence in the Welsh food industry.”

Futura is one of the largest suppliers of continental cheese – such as Feta, Halloumi and Grana Padano – to the UK and Ireland. The company is owned by Danish dairy business Nordex Food, which also operates dairies in Austria and Romania.

A spokesman for Futura told Food Manufacture: ​“We are rebuilding the business and will be recruiting staff to get site up and running with opportunities open to all. Process will start shortly.  A no of jobs will be created but exact numbers still being determined.”

New market for Futura

Futura Food UK managing director Han Christiansen added: “Taking on GRH opens up an exciting new area of the market for us and we are determined to build a positive future for the company, clients and everyone else connected to the business.

“The whole transaction has run seamlessly, with KPMG working hard to ensure the best result for all those involved. We are working hard to get the site back up and running and look forward to bringing jobs and investment back to the area.”

Meanwhile, Tulip Ltd will operate as a business unit within the Pilgrim’s Pride Corporation, the company announced as it confirmed its acquisition of the UK meat processor from Danish Crown.

Related topics: Dairy, Operations

Related news

Show more

comments

Post your comment

We will not publish your email address on the website

These comments have not been moderated. You are encouraged to participate with comments that are relevant to our news stories. You should not post comments that are abusive, threatening, defamatory, misleading or invasive of privacy. For the full terms and conditions for commenting see clause 7 of our Terms and Conditions ‘Participating in Online Communities’. These terms may be updated from time to time, so please read them before posting a comment. Any comment that violates these terms may be removed in its entirety as we do not edit comments. If you wish to complain about a comment please use the "REPORT ABUSE" button or contact the editors.

Follow us

Featured Events

View more

Products

View more

Webinars