Wed, 03 Jun 2015 | BUSINESS SALE
Cumbrian business JE Wilson & Sons, best known for manufacturing the mountaineers' favourite, Kendal Mint Cake, has been bought out of administration.
JE Wilson & Sons entered administration on 22 May this year following financial instability that came about after a relocation to a 40,000 square foot custom-built premises.
The company was bought out of administration on the same day by Creative Confectionery, lead by managing director Andrew Wilson, who is apparently one of JE Wilson's grandchildren. The deal has now gone through and the businesses are looking forward to a productive future.
Bibby Financial Services operated as a third party investor in helping secure the deal between JE Wilson & Sons and Creative Confectionery.
Mr Wilson commented on the deal: “I'm delighted to have secured the jobs of so many hardworking and committed people, and to have preserved the future of a third-generation family firm.
“Our new partners have exceptional experience in the food industry, and have made a huge success of all that they do. We can learn a lot from them as our business develops.”
Chris Farnworth, corporate manager with Bibby, added that his group worked with Wilson's to “deliver an adaptable funding structure” in order to stabilise the business, allow the deal to progress and “ensure that this quintessentially British business and maker of the famous Kendal Mint Cake lives on”.
If you have ever considered buying a distressed business or otherwise consider reading more about the financing options available to you as a business buyer.
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