Dessert firm deal secures jobs
Tom MacLennan and Geoff Rowley, partners at FRP Advisory, the restructuring and advisory firm, have completed the sale of the business and assets of Johnstone’s Just Desserts Limited, the East Kilbride-based supplier of branded cakes and desserts to the food service industry, to Finsbury Food Group plc, a UK manufacturer of cake and bread bakery goods in a deal that has secured 150 jobs at the company.
Johnstone’s Just Desserts went into administration on 25 March 2015 with joint administrators, Tom MacLennan and Geoff Rowley continuing to trade the business as normal while actively seeking a buyer for the business and its assets.
Commenting on the sale joint administrator Tom MacLennan, partner at FRP Advisory says: “We are delighted to have secured the sale of the Johnstone’s Just Desserts business to Finsbury Food Group, which is widely regarded as one of the UK’s most progressive and entrepreneurial food manufacturing businesses. This is a great result both in safeguarding the business, and importantly for securing all 150 jobs in food manufacturing. We wish the new owners Finsbury Food Group every success with their expansion plans.”
