Paramount Retail group completes Crawford and Tilley confectionery deal
The UK-based Paramount Retail Group has confirmed the acquisition of sweets firm Crawford & Tilley, which will join a portfolio of businesses that includes confectioners Bristows of Devon.
As its new owners explain, the traditional business has experienced a resurgence in its fortunes since acquisition, after benefitting from over £600,000 of investment at the site. It now enjoys BRC A-rated accreditation and recently passed a RSPO palm oil sustainability audit. Its sales growth is reportedly tracking at a rate of 10-20 per cent increase month on month.
Crawford’s is well known for making lollipops, while Tilley’s has a long tradition in making hard boiled sweets, which will complement the fudge, toffee and bonbons made at Bristows. The business operates across two sites in Thrapston, Kettering and Hadfield, Glossop. It has been reported that 35 existing jobs across the sites will be safeguarded by the move.
Director of the Paramount Retail Group, Ravi Sharma, explains: “We were presented with an opportunity to purchase the business and assets on Wednesday and have agreed a deal with administrators. We are confident that this can be a solid, successful and innovative business with an exciting future. Our team is already putting in place an action plan to ensure continuity of supply for current business partners. “
He added that the focus will also extend beyond operational continuity, explaining that through using the experience and expertise gained at Bristows, and investing in people and facilities, the company aimed to restore Crawford & Tilley to renewed growth.
Steven Muncaster, administrator, Duff & Phelps added: “We are delighted to have been able to secure the future of R Crawford (Northern) Limited as a result of this pre-pack deal with Paramount Retail Group. The synergies are evident and we believe the future is bright for the new business.”