Former Asda CEO Andy Clarke has led a consortium to acquire online sustainable meat retailer Farmison & Co out of administration for an undisclosed sum. The consortium, which includes Chilli Marketing’s Gareth Whittle, Christian Barton and Kieron Barton, will recommence operations at Farmison’s production facility in Ripon, North Yorkshire, over the coming weeks.

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The consortium hopes to “stabilise the company after a difficult year” before devising and implementing a growth strategy. Clarke will become executive chairman, joining Whittle, who was a board member of Farmison prior to the administration.

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The retailer, which trades via its own channel and Harrods and Selfridges, went into administration earlier this month resulting in the majority of its workforce being made redundant. 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. 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.”

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He added: “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.”

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FRP Advisory partner and joint administrator Arvindar Jit Singh 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.”

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Sources: https://internetretailing.net/asda-farminson-administration/