Farmison acquired by consortium led by former Asda CEO
Farmison & Co has been acquired out of administration by a consortium led by former Asda chief executive Andy Clarke and Chilli Marketing executives Gareth Whittle, Christian Barton and Kieron Barton.
The online sustainable meat retailer entered administration earlier this month when it was confirmed that up to 75 staff members had lost their jobs
Over the course of the coming weeks, the consortium will be working to stabilise the company and recommence operations at its production facility in Ripon in North Yorkshire. It will also re-open Farmison’s website.
Andy Clarke, who was chief executive of Asda from 2010 to 2016, will become executive chairman of the business.
Acknowledging the vision of John Pallagi who co-founded the business with Lee Simmons in 2011, Clarke said: “While unable to navigate the economic difficulties of the last 12 months, John’s ‘eat better meat’ mission that sits at the heart of Farmison’s business, is one we believe has significant potential for growth.
“And as a retailer brought up on a farm in Yorkshire, I know how producers across the region appreciated Farmison’s commitment to the best producers who could provide the highest quality meat to customers.
“That’s why I’m very excited about Farmison’s prospects. We have an opportunity to scale this business and further develop both its direct-to-consumer and wholesale plans, building on the ethos and values of what Farmison stands for.
“Nevertheless, there is much work to do to get the business back on its feet and trading again – not least re-engaging with Farmison’s important network of farmers across the region and re-employing colleagues.
“In the short-term, our goal is to bring financial stability to the business, and we’re committed to re-energising Farmison’s long-term vision so it can take advantage of the growth opportunities that are undoubtedly available to it.”
Farmison sells online directly to customers across the UK, and through wholesale channels such as Harrods, Selfridges, Fortnum & Mason and Michelin star restaurants.
Chilli Marketing founder and managing director Gareth Whittle was a board member of Farmison prior to the administration.
Arvindar Jit Singh, joint administrator and partner at FRP Advisory, said: “We are thrilled to have been able to secure a buyer for Farmison who is able to recommence trading and bring jobs back to Ripon.
“There had been significant interest in purchasing the business and assets of Farmison and a number of serious offers had been put forward in recent weeks, but the proposal from the Consortium provides the best opportunity of both re-establishing the business and maximising returns to creditors.”
