Sat, 01 Mar 2014 | ADMINISTRATION
Beef jerky products manufacturer Bare Earth Ltd has been purchased in a pre-pack administration arrangement.
The administrators Gareth Rusling and Chris White of The P&A Partnership took the troubled business in hand on 18 February and sold it to Australian firm Mariani Foods' European subsidiary Mariani Foods Europe Limited shortly afterwards.
The business had encountered difficulties after losing two of its major retailer customers, halving its sales as a result, despite having growing brand awareness and yearly sales of £1.1 million.
Founded in 2003 Bare Earth makes meat-based snacks including beef jerky and biltong, from its new site in Leeds, having moved there last year.
Mariani Foods, which has made beef jerky for the past three decades, intends to combine its European business with Bare Earth, and will be renamed New World Foods (Europe) following the deal. The new enterprise will be operated independently to serve the UK and European markets more effectively.
Mr Rusling said: “Bare Earth’s products are a familiar brand in the UK and are recognised for producing a quality, healthy alternative meat snack.
“This deal will enable the brand to grow again and, most importantly, everyone in the business has been able to keep their job.”
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Related information:
Businesses in administration
Business restructuring advice
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