Tue, 25 Jun 2013 | BUSINESS SALE
The assets and business of the PomeGreat business have been sold out of administration and the firm is now on its way to securing a future for its staff and creditors.
PomeGreat is the trading name of RJA Foods Ltd, a business based in Bath. The firm manufactures and distributes a range of different pomegranate drinks and has built up a strong brand within the market.
However, the company entered administration earlier this month, with Gerald Krasner and Andy Haslam of Begbies Traynor appointed to handle the matter. The firm was quickly sold to a new company, ACPT Ltd. The new firm includes one of the former directors of RJA Foods and a new investor.
Mr Krasner commented on the sale: “PomeGreat is one of the best known brands of fruit drinks in the UK with excellent distribution and a loyal customer base.
“Unfortunately, its parent company suffered from pressure on margins and increased competition. Having approached some of the company's competitors, as we expected, there was strong interest in acquiring the business and three bids were submitted. The sale to ACPT Ltd is great news for the business, staff and customers and, based on estimated realisations, creditors will receive, at minimum, a very substantial dividend.”
He added that the company's new owners will be in “an excellent position” to build on its existing strength.
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