The owner of Simple Simon Foods has reacquired the business out of administration in a pre-pack deal a little more than two months after originally taking over the food and drinks distributor.
DDC Foods, which distributes a range of products, including crisps, popcorn and snack bars, nationwide, first acquired Simple Simon Foods Ltd on 29 September 2016, according to its most recent set of accounts at Companies House.
The deal moved DDC into chilled foods and also removed a rival from the market, the report said.
Founded in 1979, Simple Simon provides chilled products to retailers and food and restaurant chains across London and the South East.
It had recently expanded rapidly, with turnover up 20% to £22.3m in 2013/14, following contract wins with a series of fast-growing easy dining chains.
However, the expansion put “unsustainable pressure” on cashflow and led to the appointment of administrators at FRP Advisory on 2 December.
The business and assets were immediately sold as a going concern to DDC, securing the jobs of the 33 staff.
DDC was established in 1996 and generated revenues of £10m in the year to 30 April 2016, with pre-tax profits of £344k.The owner of Simple Simon Foods has reacquired the business out of administration in a pre-pack deal a little over two months after originally taking over the chilled distributor.
DDC Foods, which distributes a range of snack products nationwide, first acquired Simple Simon Foods Ltd on 29 September 2016. The deal moved DDC into chilled foods and also removed a rival.
Simple Simon had recently expanded rapidly, with turnover up 20% to £22.3m in 2013/14, following contract wins with easy dining chains.
However, the expansion put “unsustainable pressure” on cashflow and led to the appointment of administrators on 2 December.
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