Baronie acquires Ashbury Chocolate

Malcolm Cohen and David Gilbert were appointed joint administrators over the sale of the business and assets of Ashbury Chocolates Limited to Baronie UK Limited on 9 February, saving 236 jobs.

Ashbury Chocolate, based in Corby, is a manufacturer of private label and own brand confectionery products for supermarkets across the UK, Europe and Australia. It also produces chocolate and confectionery under its own brands, Needler’s and Blue Bird, and is a major producer of kosher and halal certified chocolate.

The private label chocolate sector has been affected in recent years by a decline in overall market share as well as rising raw material prices. As a result, in recent months Ashbury Chocolates experienced a deterioration in its working capital position.

The company’s purchasers are Baronie UK Limited. Founded in 1896, Baronie is a manufacturer of high-quality private label Belgian chocolates for an international consumer base. The Company acquired Belgian chocolatier, Duc d’O, in September 2014.

Malcolm Cohen, BDO business restructuring partner, says: “We are pleased to have concluded the sale of the business and assets of the group, preserving 236 jobs. The sale was the best option to secure the future of the business, enabling it to move forward confidently and on a secure financial footing.”