Some great news has been announced for the West Lancashire based company, Fruitapeel. The company is the the fastest expanding manufacturer of fruit and confectionery sauce in the UK. The company has revealed that the management team at Fruitapeel has carried out a management buy-out. The business means that Terry and Deborah Haigh has taken over the ownership of the company for the other fellow shareholders who are Frank and Philip Frederick and Neil Murgatroyd. The Finance Director, Neil Murgatroyd of the Fruit and confectionery sauce company will also become a shareholder of the company.
The company first started operating in 2006 and was created by Terry Haigh. It is thought that Fruitapeel is one of the industry’s leading manufacturer of products that are used for the UK’s ice cream market such as fruit and confectionary sauces. The company also creates products for the bakery and cake making sector such a compotes, jams and preserves. Fruitapeel works to provide their extensive customer base with their produce. The customers for the company are based around the UK. The company is based in a 50,000 square foot factory space which is located in Simonswood in West Lancashire.
This management buy out is an exciting move for the company as it will help the company expand and grow their reputation. When carrying out the transaction, the Haighs were advised by CLB Coopers, a Corporate Finance and Tax team that is now a part of Baldwins Group. The news of the buy out is positive for the area as it reflects interest and expansion in the market. As part of the buy out Terry Haigh will be able to continue in his role as Managing Director, and now the company is owned by Terry it is thought that Fruitapeel will go from strength to strength.