Bakels Group acquires Real Good Food and JF Renshaw assets 

UK- The UK division of Bakels Group has acquired the business and assets of Real Good Food plc and JF Renshaw, renowned for supplying cake decorations such as marzipan, icings, and caramel to retailers and the food service industry.

The acquisition comes after Real Good Food’s recent intention to enter administration within ten business days, following the sale of its Rainbow Dust Colours UK arm on November 17.

Administration refers to a legal process where a company facing financial difficulties is placed under the control of appointed administrators. The administrators manage the company’s affairs, including its assets, to maximize returns to creditors and potentially rescue the business. 

The disposal of Rainbow Dust Colours UK essentially left Real Good Food with only the JF Renshaw operation.

A spokesperson for administrators Interpath Advisory confirmed that the transaction by British Bakels includes only the businesses and assets of Real Good Food and JF Renshaw. The shares in Real Good Food remain suspended from trade, as announced last week.

The pre-pack administration deal ensures the preservation of jobs for approximately 200 workers at the JF Renshaw plant in Liverpool. The terms of the transaction remain undisclosed.

“We are delighted that JF Renshaw, internationally known as a top-quality producer of icings and marzipan, has joined the Bakels Group, bringing together two well-known brands with a combined history of close to 250 years. We look forward to working with our new colleagues to develop the concept of ‘Renshaw from Bakels’,” James Cawthorne, Managing Director of British Bakels stated. 

Rick Harrison, Managing Director of Interpath Advisory and the joint administrator, highlighted the significance of the transaction in safeguarding employment and trade continuity. 

“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 concluded this transaction, which will enable trade to continue, and which safeguards employment for its workforce in Liverpool.”

Today’s statement reiterated the challenges faced by Real Good Food and JF Renshaw, attributing their adverse conditions to challenging trading circumstances. 

The directors, in response to these challenges, explored strategic options, including a potential sale, but given the limited timeframe, the appointment of administrators was deemed necessary to ensure the continuity of business operations.

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