Irish food manufacturer and distributor The Bite Group has been taken out of administration by UK food business Adelie Foods Group, saving 100 jobs.
The Bite Group, which supplies sandwiches and other takeaway food for supermarkets and high street food shops, went in to administration on Friday after what are believed to be cashflow issues following the loss of a major contract.
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According to reports, the company’s Ulster Bank loans were sold to the Cerberus Investment Fund, which has helped to bring in Adelie as a new investor willing to take on The Bite Group’s business after Deloitte was appointed as administrators at the end of last week.
The deal gives Adelie access to the Irish market. Per Harkjaer, chairman of Adelie, said: "This will further strengthen our intention to be the leading food-to-go supplier in the UK and Irish market. I am extremely excited by the opportunities that the deal will provide both us and our customers for future growth."
Founded in 1998 by managing director, Michael Keogh, The Bite Group supplies of brand and private-label chilled ready-to-eat foods to the retail, foodservice, coffee shop and travel sectors.
Mark Keating, Adelie's director of international business, said the acquisition was clearly good news for Bite Group, but would also allow the UK group extend its own offer to a wider customer base. "The deal is a great opportunity for both businesses," he stressed.
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By GlobalDataThe Bite Group has a 20,000 sq ft production and distribution facility in Enniskillen and further distribution centres in Belfast, Dublin and Cork.
Adelie employs 2,800 people across 11 manufacturing and distribution centres across the UK.
