Leeds – LAWFUEL – The Law News Network – Wm Morrison Supermarkets plc (“Morrisons”) and Rathbone Kear Limited have acquired the business as a bakery and related assets from the administrators of Rathbones Bakeries Limited for £15.5m.
Morrisons has acquired freehold premises at Wakefield, Wigan and Lydney whilst Rathbone Kear Limited has acquired bakery equipment and related assets at the premises in Wakefield, Wigan and Lydney. The company has also taken on a lease of bakery premises at Middlesbrough, with the associated equipment.
DLA Piper Rudnick Gray Cary (“DLA Piper”) advised the administrators, Richard Hill and Myles Halley of KPMG; business support & restructuring partner Mark Jackson led the team with associate Shahnaz Toorabally and solicitor Andy Stirk.
Mark said: “The teams at KPMG and DLA Piper worked extremely hard on this deal. Everyone involved is delighted that the sale completed and hundreds of jobs were saved. ”
Rathbone Kear Limited is a joint venture company owned by Morrisons and Harry Kear who owned and successfully ran Rathbones Bakeries Limited prior to its sale to Greencore in 1997. The acquisition will secure continuity of supply for Morrisons and other retailers and continuity of employment for a substantial number of Rathbones Bakeries’ employees.