Administrators sell confectioners Crawford & Tilley to the Paramount Retail Group

Sarah Bell and Steven Muncaster, both of Duff & Phelps, and Joint Administrators appointed by the directors of confectionery company R Crawford (Northern) Limited, have agreed a pre-pack sale of the company’s business and assets to the Paramount Retail Group. The sale concluded at 5 pm on Friday 24^th August and safeguards 35 jobs over two sites.

The company, known as Crawford & Tilley, will now be in safe hands as it joins a portfolio that includes sweet-maker Bristows of Devon, which the Paramount Retail Group purchased in 2017.

Bristows has experienced a resurgence in its fortunes since acquisition, after benefitting from over £600,000 of investment at the site. It now enjoys BRC A-rated accreditation and recently passed a RSPO palm oil sustainability audit. Sales growth at Bristows is currently tracking at a rate of 10-20 per cent increase month on month.

Crawford’s is well known for making lollipops, while Tilley’s has a long tradition in making hard boiled sweets, which will complement the fudge, toffee and bonbons made at Bristows. The business operates across two sites in Thrapston, Kettering and Hadfield, Glossop.

Director of the Paramount Retail Group, Ravi Sharma, explains, “We were presented with an opportunity to purchase the business and assets on Wednesday and have agreed a deal with administrators. We are confident that this can be a solid, successful and innovative business with an exciting future. Our team is already putting in place an action plan to ensure continuity of supply for current business partners. “

The focus will also extend beyond operational continuity says Ravi, “We’ll be using our experience and expertise gained at Bristows and investing in people and facilities to develop the business at Crawford & Tilley and restore it to profit and growth.”

Steven Muncaster, Joint Administrator, Duff & Phelps added: “We are delighted to have been able to secure the future of R Crawford (Northern) Limited as a result of this pre-pack deal with Paramount Retail Group. The synergies are evident and we believe the future is bright for the new business.”