Dutch investment fund Nimbus has acquired private-label breakfast cereal maker Sevenday.
The deal follows a judgement by the commercial court of Colmar earlier this week. Sevenday had been under judicial administration since July and was threatened with liquidation.
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A spokesperson for local business development agency CAHR, which had been tasked with finding an investor, confirmed the takeover to just-food, adding Nimbus was planning to retain 76 of the company's 112 staff.
The recovery plan focuses on Sevenday continuing to produce breakfast cereals on behalf of European retailers. The spokesperson said a move into the organic segment of the market in the mid-term was a possibility being considered.
At the time of its bankruptcy, Sevenday's annual turnover had fallen to EUR27m (US$29m) compared to EUR35m in 2011 when the company was operating at full capacity.
Sevenday was previously owned by German cereal group Hahne.
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By GlobalData
