Boparan Private Office has confirmed the acquisition of Bernard Matthews.
Boparan Private Office is a private investment vehicle of Ranjit Singh Boparan, the CEO of 2 Sisters Food Group.
A spokesman for the Boparan Private Office said: "This acquisition will create a strong platform for future growth and ensures Bernard Matthews is well positioned to develop into a sustainable, growing business.
"We intend to respect and build on the 66-year heritage of a much-loved British brand and crucially help to deliver Christmas 2016, which would have been at risk without our intervention. We have a proven track record in turning around businesses and we aim to make Bernard Matthews great again.
"This deal is ultimately good news for UK consumers and our customers, who will benefit from a secure supply of British turkey from one of the most recognisable brands in the UK."
Deloitte, who were appointed as administrators to Bernard Matthews and oversaw the immediate pre-pack sale to the Boparan Office, confirmed that no redundancies had been announced and that the business was expected to continue to trade as normal.
Dan Butters, joint Administrator and partner in Deloitte’s Restructuring Services practice, said: “This famous 65-year old brand had been operating in a challenging market for some time, and today’s announcement is a positive outcome for the business and the brand. We are pleased that all the jobs have been preserved and the business can make a fresh start with new owners.”
A statement from Rutland Partners, who bought Bernard Matthews in 2013, said: "We have invested significant funds into the Bernard Matthews business and brand over the last three years in a continually challenging market.
"Whilst disappointed that the business has continued to struggle during our ownership we are pleased that it has now been acquired by Ranjit Boparan with access to a large, UK poultry group and that all the jobs have been preserved."
The acquisition, however, has been given a cautious welcome by Unite, a leading workers’ union, as it seeks clarification on future employment, pay, and terms and conditions under the new ownership.
Unite is set to meet with Bernard Matthews’ management team today (Wednesday 21st September) to help clarify matters.
Unite regional officer Steve Harley commented: "Searching questions will be asked on future employment, pay, and terms and conditions.
"We will also be asking about the status of the pension scheme under the new owners, although it is expected that our members won’t be affected in this respect by today’s takeover.
"Bernard Matthews is a major employer in East Anglia and the union wants to work constructively with the new ownership to ensure the continuing success of this iconic company."
This story was originally published on a previous version of the Meat Management website and so there may be some missing images and formatting issues.
