Online meat retailer Farmison & Co, which went into administration earlier this month, has been acquired by a consortium led by the former CEO of Asda, Andy Clarke.
The Yorkshire-based company has been sold to a consortium which also includes Chilli Marketing’s Gareth Whittle, Christian Barton and Kieron Barton, for an undisclosed sum.
Over the coming weeks, they intend to recommence operations at Farmison’s production facility in Ripon, North Yorkshire.
They will also work with the leadership team to "stabilise the company after a difficult year", and then "devise and implement a growth strategy".
Andy Clarke, who was chief executive officer of Leeds-based Asda from 2010-16, will become executive chairman of Farmison.
The company, co-founded by John Pallagi and Lee Simmons in 2011, sells meat online and through wholesale channels such as Harrods, Selfridges, Fortnum & Mason and Michelin star restaurants.
The vast majority of its workforce, consisting of around 75 staff, were made redundant when FRP Advisory was appointed as administrator earlier this month.
Mr Clarke said that while the firm was unable to navigate the economic difficulties of the last 12 months, Mr Pallagi's ‘eat better meat’ mission was one that had significant potential for growth.
“As a retailer brought up on a farm in Yorkshire, I know how producers across the region appreciated Farmison’s commitment to the best producers who could provide the highest quality meat to customers," he said.
“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."
However, he said there was 'much work to do' to get the business back on its feet and trading again, such as re-engaging with Farmison’s network of farmers across the region.
“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.”
In the course of the coming weeks, the consortium said it would re-open Farmison’s website to update customers and suppliers with its plans.
