The business and assets of RJA Foods Ltd, which trades as PomeGreat, have been sold out of administration, giving the business a future, securing jobs and providing a substantial return for creditors.
Based in Bath, the business manufactures and distributes a range of pomegranate drinks and, having traded for 12 years, it has established a strong brand within the retail market.
RJA Foods Ltd was placed in the hands of joint administrators, Gerald Krasner and Andy Haslam of Begbies Traynor, on 14 June 2013, and they immediately sold the business to a new company, ACPT Ltd which includes one of the former directors of RJA Foods Ltd and a new investor. The jobs of all nine staff have transferred to the new owner.
“PomeGreat is one of the best known brands of fruit drinks in the UK with excellent distribution and a loyal customer base,” explains Gerald Krasner. “Unfortunately, its parent company suffered from pressure on margins and increased competition.
“Having approached some of the company’s competitors, as we expected, there was strong interest in acquiring the business and three bids were submitted. The sale to ACPT Ltd is great news for the business, staff and customers and, based on estimated realisations, creditors will receive, at minimum, a very substantial dividend.
“In the hands of its new owners, the business is in an excellent position to build on the strength of its PomeGreat brand.”