Pennine Way Preserves acquired in MBI deal
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Pennine Way Preserves Limited, a Preston based manufacturer of jams and preserves has been sold in a Management Buy In deal.
The company, which manufactures and distributes its products from its Garstang headquarters, was placed on the market due to outgoing shareholders John and Margot Humphreys’ wishes to sell the business and retire.
The company is well known within the local area for the high quality of its products.
There were around 30 expressions of interest in Pennine Way Preserves which resulted in 3 offers received for the business.
John and Margot will remain with the business for up to 12 months to assist the new owners with a handover period.
The business will remain at its current premises with all staff being retained by the new owners.
Tom Eatough, Senior Deal Executive at KBS Corporate, comments “Pennine Way Preserves produces fantastic jams and preserves and I am really pleased that we have secured a buyer for the company.
“Due to the high quality of products they produce, there was no shortage of interested parties who were looking for the opportunity to buy the business and build on the successful brand that John and Margot have built.
“I would like to wish both parties the very best for the future.”