UK: 2 Sisters Newport site sold to former execs
2 Sisters has announced the sale of the Avana bakery
2 Sisters Food Group has announced the sale of the Avana Bakeries site in Newport to Food Utopia, a company set up by two former executives at the UK food group.
In April, 2 Sisters confirmed it would close the site after it lost a cake production contract with Marks and Spencer. The contract represented 85% of the site's production. Some 550 staff worked at the plant.
The business will operate under Food Utopia - a new company set up by two former 2 Sisters executives - which will aim to secure continuing operations.
Staff are in the process of being transferred over to the new firm and there will be a transition period as existing customer contracts are transferred over.
Boparan Holdings made some positive noises about its third-quarter and said that it plans to invest in its protein and chilled units. Ukrproduct suggested that it has recovered some sales volumes desp...
- Nestle catering for an ageing global population
- Mondelez on China, Hershey and Q2 results
- Food companies can lead on workplace nutrition
- What post-Brexit trade with the EU could look like
- Unilever is "working harder" in tough environment
- Kar's gets Non-GMO verification for Second Nature
- Kerry Foods sets its sights on C-sector
- Tesco drops John West products over sustainability
- Mondelez less certain on 2016 revenue growth
- Brexit - UK food sector pessimistic on medium-term