Fri, 23 Aug 2013 | BUSINESS SALE
A Slovakian business has bought Discovery Foils out of administration, saving 14 existing jobs.
Based in Bridgnorth, Discovery Foils has supplied foil packaging to dairy processors and confectionery brands. It has some big names on its client book, including businesses like Cadbury, but was hit by trouble with cashflow earlier this year.
Will Wright and Mark Orton from KPMG were called in as administrators and the pair wound down operations as Discovery. But they were always hopeful that the company would receive substantial interest from buyers who could restart the plant.
Moneta Packaging has ended up being the preferred bidder and the sale of the firm was confirmed this week.
Mr Wright commented on the news to FoodManufacture.co.uk: “We are delighted to have secured a sale of the business and assets, which sees a continuation of the business and is expected to result in the re-employment of a number of former staff.”
Alena Spinerova, chief financial officer of Moneta, added: “This acquisition expands our reach into new market applications for the pharmaceutical and dairy sectors that require lacquered heavy gauge aluminium packaging.”
The buyer added that the acquisition will help Moneta to bring its packaging solutions to a broader market, while “improving their packaging quality and cost efficiency”.
__________________________________________________________________________
Related information:
Confectionary foil packaging business rescued by former employee
View the latest distressed businesses
Bringing to the market this freehold cocktail bar and restaurant located in a Lanarkshire prominent town centre location.
FREEHOLD
Presenting to the market this electrical design, management and installation company currently located in Woking.
A renewable energy solution specialist available for sale, the company was established in 2020 and boasts a stellar reputation and customer base.
06
|
May
|
Tekmar Group disposes of subsea company for £1.9m | DIVISION SALE
Tekmar Group, a Darlington-based supplier of technology and ...
06
|
May
|
Frasers acquires MATCHES IP out of administration | BUSINESS SALE
Frasers Group has acquired the intellectual property of e-co...
03
|
May
|
Three Aberdeen legal firms merge to form all-service provider | MERGER
Three prominent Aberdeen legal businesses have merged to for...
10
|
Mar
|
£32m turnover Angus Steakhouse appeals to landlords with administration looming | ADMINISTRATION
London’s popular Angus Steakhouse chain has appealed t...
21
|
Jan
|
ProCook considering sale as it undertakes strategic review | BUSINESS NEWS
Kitchenware retailer ProCook is to undertake a strategic rev...
09
|
Dec
|
Administrators seek buyer for garden machinery firm | ADMINISTRATION
Shropshire-based garden machinery company Oakley’s has...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.