Belgian chocolate group Baronie is to buy UK private-label confectionery maker Ashbury Chocolate.
Ashbury had fallen into administration. “In recent months Ashbury Chocolates experienced a deterioration in its working capital position,” administrators BDO said in a statement announcing the sale. The sale to Baronie will see 236 jobs preserved. The transaction value was not disclosed.
Malcolm Cohen, BDO business restructuring partner, said: “We are pleased to have concluded the sale of the business and assets of the group, preserving 236 jobs. The sale was the best option to secure the future of the business, enabling it to move forward confidently and on a secure financial footing.”
Baronie is a manufacturer of branded and private-label Belgian chocolates. The company acquired Belgian chocolatier, Duc d’O, in September.