A Gwynedd dairy that collapsed under administration in June has been sold – with jobs to take over.
GRH Food Company in Minffordd, between Penrhyndeudraeth and Porthmadog, called workers this summer to tell them the company was going to be placed in receivership.
It saw 86 workers lose their jobs and came just two years after the company received a £ 1.7million grant from the Welsh government to move from Y Ffor, near Pwllheli, to a new 6 , £ 5million.
But today, KPMG directors confirmed that the company has been sold.
Futura, based in Gloucestershire, one of the largest suppliers of continental cheese in the UK and Ireland, has taken over the brand. The company is owned by the large Danish dairy company Nordex Food.
The deal secures the future of cheese making at the site, as the buyer plans to restart operations at Snowdonia Business Park in the coming months.
Paul Dumbell, Co-Director and Director of Restructuring at KPMG, said: “The agreement with Futura offers an important opportunity to relaunch a major employer in Snowdonia and to continue a proud history of Welsh cheese making.
“With the backing of a large international dairy company, Futura is looking to restart operations as soon as possible, giving a huge boost to the local economy and a vote of confidence in the Welsh food industry.”
Hans Christiansen, Managing Director of Futura Food UK, said: “GRH has been an important part of the local Snowdonia community and was an established producer of quality dairy products. Taking over HRM opens up an exciting new area of the market for us and we are determined to build a positive future for the company, customers and everyone else in the business.
“The whole transaction went seamlessly with KPMG Manchester working hard to ensure the best outcome for everyone involved.
“We are working hard to get the site back up and running and we look forward to bringing jobs and investment back to the area.”
MP Liz Saville Roberts said: “I am delighted to learn that a buyer has finally been found for the former GRH food factory in Minffordd, thus securing the future of cheese making at this strategic site.
“This is a state-of-the-art facility with the latest cheese production technology and I am happy that plans are in place to restart manufacturing as soon as possible.
“I have a meeting scheduled with Futara Foods next week, and look forward to discussing their plans in more detail, where I will lobby for local jobs to return to the site.”