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.