Lymington based pizza specialist Doughology is confident it can trade its way out of trouble after a management buy out with a "revolutionary" new microwave pizza that tastes as good as pizza baked in an oven.
The company has secured a listing at Asda. Joint md Alan Adler said: "This product has huge potential. It is notoriously difficult to produce edible microwave pizza, and the multiples are telling us this is a brand beater."
Formerly known as Express Products, the company was put into administration by parent Napier Brown at the end of November. It is a leading supplier of chilled and frozen pizza to the multiples.
This month, an MBO team led by joint mds Steve Jose and Adler bought the company with a mixture of private cash and a loan from Lloyds TSB, blaming Napier Brown's "excessive" overheads and increasingly diverse business portfolio for its financial problems.
Doughology has also launched a new range of frozen pizza under the Frankie Dettori brand at Iceland the first of a series of brand licensing deals in the pipeline.
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