The latest news, trends, analysis, interviews and podcasts from the global food and beverage industry

British Bakels has acquired the business and assets of Real Good Food and its bakery ingredients unit, JF Renshaw, for an undisclosed sum. Real Good Food and JF Renshaw faced difficulties due to "challenging trading conditions". In response, the directors conducted a review of strategic options, "including a potential sale of the shares or the business and assets of JF Renshaw, as well as sourcing external funding," said JF Renshaw. The company highlighted: "Given the limited timeframe available, it became clear that it would not be possible to conclude a transaction on a solvent basis and as such, the directors took steps to seek the appointment of administrators." Earlier this week, Rick Harrison and Will Wright from the financial restructuring firm Interpath Advisory were appointed joint administrators for the Liverpool, UK-based Real Good Food and JF Renshaw. Following their appointment, Harrison and Wright promptly finalised the sale of the business and certain assets to British Bakels. James Cawthorne, managing director of British Bakels, commented: “We are delighted that JF Renshaw, internationally known as a top quality producer of icings and marzipan, has joined the Bakels Group...We look forward to working with our new colleagues to develop the concept of ‘Renshaw by Bakels’.” Harrison added: “With a heritage dating back 125 years, JF Renshaw is well known for its range of baking ingredients and cake decorations. We’re pleased to have been able to conclude this transaction, which will enable trade to continue and which safeguards employment for its workforce in Liverpool.” As part of the sale, all employees were transferred to the acquiring entity.