Chilled foods group Geest PLC has revealed that it has completed a purchase of the Tinsley Foods Ltd facilities in Lincolnshire.
The firm paid £15.3m (US$22.37m) to Tinsley’s appointed receivers for the 30 acre Tinsley site, which has 22,000 metres(squared) factories and warehousing for the preparation of chilled foods.
Geest’s chairman, Ian Menzies-Gow, told Ananova: “These are excellent facilities, which if we had built from scratch would have cost us a great deal more money.
“The location of the large Tinsley site is particularly attractive as we shall benefit from its proximity to our other manufacturing sites in Lincolnshire.”
Taking into account this purchase, Geest’s total capital expenditure is now expected to exceed £70m for 2001.
The facilities are expected to be re-opened in 2003.