Tayto Announce Acquisition of Golden Wonder Business
Monday, 20 February 2006 12:00
The deal secures all 335 jobs in the Scunthorpe plant and 21 jobs in administration, finance and sales in the Market Harborough head office in addition to the 195 jobs saved at the Corby site.
This takes the company from £15m turnover to £100m in five years of accelerated growth.
Under a separate agreement Tayto has sold the Nik Naks and Wheat Crunchies brands to United Biscuits. However they will continue to manufacture both products at Scunthorpe under a co-manufacturing agreement with United Biscuits. The company is also manufacturing Mini Pringles at the Corby site under license from Procter and Gamble.
Tayto Managing Director, Stephen Hutchinson, said he was delighted at such a positive outcome after weeks of negotiations.
“We have a very clear vision for our business and the sale of Golden Wonder provided us with an accelerated growth opportunity at exactly the right time. As a company we have invested heavily in gaining a reputation nationally as a top quality manufacturer with excellent management and production capabilities.
“We wanted to further expand our business into the rest of Great Britain, consolidating our core business in Tandragee and developing our reputation as a brand builder.
“Tayto is already a market leading brand in Northern Ireland and is making inroads into the GB market. This acquisition of the Golden Wonder brand and manufacturing capacity is the next stage in ambitious plans for the future.
“We have exciting long term plans for both the Scunthorpe and Corby plants and intend to develop other products and manufacturing opportunities over the next twelve months.
“I have no doubt that the 551 members of the workforce whose jobs have been secured will be relieved but I have to caution that we are still in an extremely competitive market place. Continued success will depend on our combined ability to be agile and flexible, maximising our strengths in a highly competitive business sector.
“Tayto is up for the challenge and I believe the people of Scunthorpe and Corby are right beside us.”