UK-based Country Style Foods has completed the acquisition of Poole's Pies, one of the oldest pie and pastry brands in the country, for an undisclosed amount.
Last week, Poole's Pies filed a notice at the High Court in Manchester with an intention to appoint an administrator.
It is believed that Poole's owner Dave Whelan agreed to sell the business in March 2012 to Neil Court-Johnson, former Holland's Pies boss, for £4m; however, the deal was never formally announced.
Joint administrator Gary Corbett said that the company has faced difficulties in the recent months and continued to make losses despite securing new listings with major retail chains.
"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," Corbett added.
Country Style Foods managing director Joe Wood said that the acquisition provides the company with access to new customers and markets.
Countrystyle Foods, based in Leeds, UK, is a manufacturer and distributor of bakery products for the supermarkets, retailers, restaurants, and food service customers.
