Dovedale Foods Ltd, a producer of condiments and seasonings, has been sold out of administration.
The East Midlands-based business, which makes vegan friendly, and gluten, wheat and dairy-free cooking sauces and condiments for its ‘FreeFrom’ range, was handed over to administrators at Smith Cooper in October.
Dovedale’s directors had sought administration after having cash flow difficulties and being unable to secure new finance.
Founded in June 2010, the business quickly proved to be very popular, winning an award in the prestigious ‘FreeFrom Food Awards 2012’, and establishing a strong reputation and relationships with customers and other businesses.
Michael Roome, director at Smith Cooper, commented: “It was apparent that in order for the business to survive a purchaser needed to be sought to acquire the business and assets. We undertook an accelerated marketing process and an offer was forthcoming from Ethical Blends Limited, an independent third party, which would effectively ensure the continuity of the business as a going concern.”
The sale completed in just three days, and the new owner Ethical Blends is optimistic of its ability to drive the business forward.
Ethical Blends’ managing director, Peter Ascroft, said: “We continue to look for opportunities to complement our existing business and Dovedale is such a company, being well positioned in an expanding market sector.”
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