One of Northern Ireland’s leading food companies has further grown its presence in England with the purchase of a large abattoir and processing business in the south west, supported by Ulster Bank.
The bank provided acquisition finance and working capital facilities through the Funding for Lending Scheme to enable Foyle Food Group to buy the 80,000 sq ft factory and plant of Ensors at Cinderford in Gloucestershire.
The deal to acquire the assets of the third generation family business from administrators will enable Londonderry-based Foyle Food Group to service growing volumes of business with multiple retailers in the UK and Europe.
Corporate Banking Relationship Director at Ulster Bank, Damien Long, said that the high quality premises and equipment will be a major asset for the Northern Ireland firm.
“Ulster Bank was able to support Foyle Food Group’s first acquisition in England in August 2012, with the purchase of premises in Melton Mowbray, and we’re pleased to help the company continue to grow with this latest investment. The acquisition will provide Foyle with significant additional capacity to support additional volume from important customers.”
The purchase of Ensors by Foyle Food Group has secured around 130 jobs.
Further information on Ulster Bank’s products and services is available at: www.ulsterbank.com
For further information on Foyle Food Group is available at: www.foylefoodgroup.com
