Fri, 06 Nov 2015 | BUSINESS SALE
The administrators handling Swirl Products have secured a sale of the Oldham-based company.
Russel Cash and Ben Woolrych from FRP Advisory were appointed as administrators of Swirl towards the end of October. They very quickly received interest from potential buyers for the company and have now come to an agreement with 151 Products, a Manchester-based consumer products group.
151 Products has purchased the business and assets of Swirl Products Ltd, which traded as fmcg. They intend to take the business forward with fresh investment under their new ownership.
Mr Cash noted that fmcg has always had “a very strong reputation in the sector”, noting that this acquisition will see it well placed to move forward.
Richard Shonn, managing director of 151 Products and partner of the firm's investment arm b7 Ventures, added: “With the support of the 151 infrastructure and our access to market, we expect a very exciting future for the fmcg brands, and a far more stable trading environment for their long standing UK suppliers.”
Fmcg originally faced financial difficulties due to cashflow pressures, which is what is thought to have pushed the business into administration. The decision to do so, however, has protected the firm and left it in an excellent position to now pursue growth under new ownership with the financial support needed.
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