Food group Geest today bought three factories from the receivers of chilled food maker Tinsley Foods, in Linconlshire.
Geest plans to reopen the facilities – which closed in September with the loss of 850 jobs – in two years’ time.
The empty production units, consisting of 236,814 sq ft (22,000 sq m) of factories and warehousing used for the preparation of chilled foods, have a book value of £15.3m, according to Tinsley’s last published accounts.
Peterborough-based Geest produces ready-made meals for retailers including Sainsbury and Marks & Spencer, and also provides salads and ready-prepared vegetables.
At its interim results in September, Geest reported an 11% rise in pretax profits to £17.7m, on turnover of £329.1m.
EGi News 31/10/01
