Australia-based meat producer Mariani Foods has made the decision to expand its presence in Europe further by acquiring British company Bare Earth.
The takeover, which includes the purchase all of Bare Earth's assets and staff for an undisclosed sum, has reportedly saved the Yorkshire-based company from administration.
Bare Earth, who make African-styled dry meat products had made itself into a £1.1 million business over the past ten years. However, it ran itself into serious financial trouble when it lost two major retail customers at the beginning of 2013.
Mariana Foods said in a press release that its European operation, Mariani Foods Europe, combined with Bare Earth, would be renamed new New World Foods (Europe) and managed independently "to better service the UK and European markets".
Don Nisbet, group MD of Mariani Foods, said: "This is an exciting time for New World Foods. We have successfully acquired the assets from Bare Earth that will allow us to offer British-made biltong and jerky, something that means a lot to the consumers we've spoken to over the years."
Bare Earth recorded a 50% drop in sales last year because of these contract losses. It employs 13 people.
© 2014 - European Supermarket Magazine by Enda Dowling
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