Australia-based meat processing company Thomas Foods International has acquired Mondello Farms, a wholesaler of processed potatoes, for an undisclosed amount.
McGrath Nicol, who was appointed as receiver after Heard Phillips was hired as administrators of the company, has confirmed the sale to Thomas Foods International.
Mondello Farms entered into administration in March as it struggled from tough market conditions such as declining potato prices and debts of more than $40m.
The company employs about 140 people across its South Australian and Victorian operations.
Mondello Farms' operates a processing packaging facility and is engaged in growing potatoes on owned and leased land in South Australia and Victoria and sourcing from third party growers.
