Senior management at Community Foods (formerly Milk Marque) has bought an 85% stake in the company following months of protracted negotiations.
The new business structure, see the senior management owning its majority share via its buyout vehicle, Micross Natural Foods. The remaining 15% is held by the Milk Pension Fund.
The new management said this week that it believed the new ownership would bring stability and be in the best interests of the Features > Business, customers, suppliers and employees, following several upheavals in recent years.
“The company has made significant progress in the past year in delivering its restructuring plan and following the buyout, the management and employees will have a clear incentive in delivering the company’s aspirations in full,” said a Community Foods spokesperson.