Meat and roasted veg supplier Holmesterne Foods has secured its future, saving 140 jobs, thanks to a sale to fellow Yorkshire-based business Troy Foods.
Established in 1986, the company provides meat and vegetable products to retailers, food manufacturers and foodservice customers, operating from two sites in Richmond, North Yorkshire.
Holmesterne had faced margin pressures stemming from high input costs across ingredients, packaging and its factories, compounded by increases in employment taxes.
In recent months, it has worked with advisors from recovery firm Interpath to explore investment options.
Following a strategic review, Interpath completed a sale to Leeds-based Troy Foods, which supplies salad and sauce products into retail and food manufacturing customers and employs 240 staff.
“We’ve long admired the team at Holmesterne and the strong reputation they’ve built over the years,” said a joint statement from Troy chairman David Kempley and CFO Steve Clark.
“This acquisition represents an exciting diversification for Troy Foods. We have invested in the growth of Troy Foods (Salads) and see diversification as a development step, complementing our product range whilst offering synergies and enhancing stability.
“We’re glad to be in a position where we can support a fellow Yorkshire business that has had a tough time and excited to welcome Holmesterne into the Troy family. We are committed to working with the team to help it regain its momentum. Together, we believe we can unlock new opportunities for growth and innovation, while continuing to deliver the high standards our customers expect.”
Holmesterne Foods managing director Keith Tindell added: “We’re thrilled to join the Troy Foods group and begin this new chapter for Holmesterne.
“The last year has brought its share of challenges, but throughout it all, our team has remained resilient and focused. Becoming part of a like-minded, family-owned business gives us the platform we need to stabilise and grow. We’re confident that with Troy’s support, we can build a stronger future for our people, our customers, and our suppliers.”
Tom Swiers, director and food and sector lead at Interpath, who led the transaction, said: “The food industry is a fundamental pillar of the Yorkshire economy, and this deal brings together two notable firms in the region.
“The acquisition by Troy Foods creates a stable base for Holmesterne to steady its operations and rebuild after some challenging trading. For Troy, this supports its continued growth and diversification into new areas across an incredibly diverse customer base.”
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