A French court has accepted the sole bid for Spanghero, a meat products company caught up in the horsemeat scandal earlier this year.
The bid came from Spanghero’s founder Laurent Spanghero, who sold the business to its current owner, Lur Berri, in 2009.
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Mr Spanghero’s associates are local property developer, Jacques Blancet and risk capital firm, Investeam.
In its judgment the court said Mr Spanghero had made a commitment not to relinquish the assets he was acquiring for a period of five years and to employ the 90 workers – out of a total of 230 – he is taking on for at least two years. The takeover will take effect immediately. The Spanghero brand name is to be abandoned.
In April, a court ordered the liquidation of Spanghero but allowed it to continue trading in the hope of finding a buyer.
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By GlobalData
