Wednesday, October 03 11:45:52
McEvoy Family Foods Ltd has exited examinership following an investment of E420,000 in the business by Glanbia Consumer Foods.
The company is now a subsidiary of Glanbia Consumer Foods, but will continue to trade under its existing name, with Gary and Jane McEvoy continuing to run the company.
Gary McEvoy will continue to lead the business, while Jane McEvoy will focus on developing a new brand of children's foods - Harry's Little World.
Glanbia has invested in McEvoy Family Foods as it reflects its new chilled food strategy of developing artisan food brands, the company said.
"The company recognises the importance of family businesses for the Irish food industry and as a result is keen to support the McEvoy Family in developing their business."
Commenting on the announcement, Jane McEvoy, McEvoy Family Foods Ltd, said the family business has come through tough times.
"This has been a very difficult process for us, but we are happy to have come through the examinership and secured the future of the business. Glanbia's investment will help us realise our goals by bringing additional expertise to the company, creating new business opportunities and helping us market new products like our Harry's little World soup range. We would like to thank all of our customers, including SuperValu, Centra and Lidl, for supporting us during this difficult period. We look forward to repaying their faith in our business after closing this difficult chapter in our history."
Colin Gordon, CEO, Glanbia Consumer Foods, said: "We are very pleased to have reached this agreement with the Examiner and McEvoy Family Foods and we look forward to working with Gary and Jane to develop the business. We see significant export potential for high quality foods and are keen to support the passion and commitment that the McEvoys will bring in developing the business."
McEvoy Family Foods was established in April 2009 and generated sales of E1.8 million in 2011 after securing contracts with SuperValu, Centra and Lidl. The company specialises in the production of soups and garlic breads for retail chains' own brand ranges and has won a range of awards for its produce.