Partner Article

Wigan pie firm sold to Yorkshire bakery group

One of Wigan’s longest-established brands, Poole’s Pies, has been sold in a pre-pack deal to Midland Bakery, part of Country Style Foods.

Poole’s had filed a notice of intention to appoint an administrator at the High Court in Manchester last week. Accountancy firm Milner Boardman & Partners, based in Hale, was appointed and quickly sold the business to Midland.

Owner Dave Whelan was reported to have agreed a £4m deal to sell in March last year to Neil Court-Johnson, former Holland’s Pies managing director, but the transaction was never formally completed.

In a statement the firm said: “The Wigan-based business was placed into administration following a period of loss-making and there being little likelihood of the company coming back into profitability in the immediate future, and the potential cost of the settlement of a significant legal claim made by a rival operator.”

It is understood that the “rival operator” is 2 Sisters Group, which owns Hollands Pies. Joint administrator Gary Corbett, a partner at Milner Boardman, said: “The company has faced a difficult few months and has continued to make losses. Business forecasts prepared by the company gave no imminent indication of a return to profitability leaving no option but to either close the company down or find a quick sale.”

Dave Whelan, who also owns Wigan Athletic and DW Sports, acquired Poole’s more than 25 years ago.

Andy Gee finance director of Dave Whelan Sports said: “This is a good outcome for the business which has been struggling for some time despite significant investment in plant and machinery.

“We are pleased with the way the administration and sales process has been handled ensuring staff jobs are retained and the company can continue to trade.”

Joe Wood, managing director of Country Style Foods said: “This is a great opportunity for our company as the purchase of this business gives us access to new customers and markets.”

Poole’s was founded in 1847 and is reportedly the oldest bakery in England. The business, which currently employs around 60 staff, supplies sweet and savoury baked goods to Asda and Tesco.

This was posted in Bdaily's Members' News section by Simon Malia .