UK: Tayto completes Golden Wonder acquisition
Tayto has announced the acquisition of the Golden Wonder manufacturing facility in Scunthorpe and the Golden Wonder Brands.
The snack food producer based in Northern Ireland purchased Golden Wonder's production plant in Corby in January. This latest deal completes the sale of Golden Wonder, which was placed into administration at the beginning of the year.
Although the terms of the deal were not revealed, as just-food previously reported (3 February) it is thought the bid is worth in excess of GBP10m.
The agreement secures all 335 jobs at the Scunthorpe facility and 21 jobs in administration, finance and sales in the Market Harborough head office in addition to the 195 jobs saved at the Corby site.
Under a separate agreement, Tayto has sold the Nik Naks and Wheat Crunchies brands to United Biscuits. The production of both brands will continue in Scunthorpe under a co-manufacturing agreement with UB. Tayto will also manufacture Mini Pringles at the Corby site under license from Procter and Gamble.
The company has said the deal will take the Tayto Group from GBP15m annual turnover to GBP100m within five years of accelerated growth.
Tayto managing director, Stephen Hutchinson, said: "We have a very clear vision for our business and the sale of Golden Wonder provided us with an accelerated growth opportunity at exactly the right time.
"We wanted to further expand our business into the rest of the United Kingdom, developing our reputation as a brand builder. This acquisition of the Golden Wonder brand and manufacturing capacity is the next stage in ambitious plans for the future.
"We have exciting long term plans for both Scunthorpe and Corby and intend to develop other products and manufacturing opportunities over the next 12 months."
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