The Cheese Cellar Company has been bought out by its founders after parent Novel Group went into administration.
The MBO, led by founders Nick Martin, Jonnie Archer and Simon Yorke of H&B Foods, was completed last week, securing the future of the speciality cheese wholesaler and supplier whose customers include Harrods, the Ritz and Pret A Manger.
The deal was joint-funded by Straumur Burdaras Investment Bank.
"This is a hugely successful company and this move will only take the business from strength to strength," said sales director Yorke.
"Our customers can only be reassured by the company being back with its founders."
The £18m Novel Group, which also owns the Fresh Olive Company, fell into administration following cashflow problems. The Fresh Olive Company is continuing to trade while a buyer is sought.
The MBO, led by founders Nick Martin, Jonnie Archer and Simon Yorke of H&B Foods, was completed last week, securing the future of the speciality cheese wholesaler and supplier whose customers include Harrods, the Ritz and Pret A Manger.
The deal was joint-funded by Straumur Burdaras Investment Bank.
"This is a hugely successful company and this move will only take the business from strength to strength," said sales director Yorke.
"Our customers can only be reassured by the company being back with its founders."
The £18m Novel Group, which also owns the Fresh Olive Company, fell into administration following cashflow problems. The Fresh Olive Company is continuing to trade while a buyer is sought.
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