News: Pointer sale saves 47 Rotherham jobs
The joint administrators of Rotherham based Pointer Pet Foods have concluded a sale of the business' trade and assets, saving 47 jobs.
The dog treat manufacturing business has been bought by a newly formed company, called Pointer Pet Products Limited which is backed by private investors.
Pointer Pet Products Limited intends to make substantial investment in key operational and administrative areas including commissioning a state of the art sandwich biscuit line, to be completed by the end of January 2010.
Paul Richardson, Chairman of Pointer Pet Products Limited said: "Pointer's history of producing high quality dog biscuits and treats for over 40 years, supplying leading retailers in both the UK and Europe, represents a strong platform to expand sales, broaden the product range and secure the employment of a highly dedicated and expert workforce.
"Working closely with the Pointer team, we are committed to investing in the business to enhance the production capabilities and expansion of sales with both existing and new customers."
Howard Smith, joint administrator and KPMG Restructuring Associate Partner, said: "After a six week period of trading and marketing the business we are very pleased to have concluded a deal which saves the jobs of virtually all the employees and enables the business to continue."
Graham Clark has been appointed Chief Operating Officer effective immediately.
Pointer Pet Products Limited was assisted in the acquisition by corporate finance advisers Rickitt Mitchell and legal advisers Hammonds LLP.
The business appointed Howard Smith and Mark Firmin as joint administrators in October following liquidity issues within its parent company, the Rodi Group, which has operations in Germany and the Netherlands, compounded by the cost of investment in additional production and packaging lines.
Pointer Pet Foods website
Rotherham
The dog treat manufacturing business has been bought by a newly formed company, called Pointer Pet Products Limited which is backed by private investors.
Pointer Pet Products Limited intends to make substantial investment in key operational and administrative areas including commissioning a state of the art sandwich biscuit line, to be completed by the end of January 2010.
Paul Richardson, Chairman of Pointer Pet Products Limited said: "Pointer's history of producing high quality dog biscuits and treats for over 40 years, supplying leading retailers in both the UK and Europe, represents a strong platform to expand sales, broaden the product range and secure the employment of a highly dedicated and expert workforce.
"Working closely with the Pointer team, we are committed to investing in the business to enhance the production capabilities and expansion of sales with both existing and new customers."
Howard Smith, joint administrator and KPMG Restructuring Associate Partner, said: "After a six week period of trading and marketing the business we are very pleased to have concluded a deal which saves the jobs of virtually all the employees and enables the business to continue."
Graham Clark has been appointed Chief Operating Officer effective immediately.
Pointer Pet Products Limited was assisted in the acquisition by corporate finance advisers Rickitt Mitchell and legal advisers Hammonds LLP.
The business appointed Howard Smith and Mark Firmin as joint administrators in October following liquidity issues within its parent company, the Rodi Group, which has operations in Germany and the Netherlands, compounded by the cost of investment in additional production and packaging lines.
Pointer Pet Foods website
RotherhamImages: Pointer
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