Posted on Tuesday 21 August 2018 by John Mulgrew
The boss of Tayto in Northern Ireland has bought over a Co Londonderry family bakery business – saving around 260 jobs.
Mr Allen bought McErlain’s Bakery in a private capacity, after it began suffering trading difficulties in the past year.
As a result, EY was appointed as administrators to the company, and identified a fresh buyer for the long-running family firm, based in Magherafelt.
The bakery, produces the Genesis Crafty range as well as private label cakes and breads for stores such as Marks and Spencer, Waitrose and Tesco.
Managing director, Brian McErlain, said while this is "obviously a time of mixed emotions; sadness that it is now a different family who own the business but hope for the future and the growth of the Genesis Crafty brand”.
“Paul Allen’s ability is very well respected in the business community, not just in Northern Ireland but further afield and I believe that his involvement will be a real benefit to the company.”
Mr Allen said that this is a “private investment by me and my family”.
“The McErlain family have built a great business, with excellent products which have national markets. I’m hoping that in my non-executive role with the company, I will be able to use my experience in the industry to help guide the growth of both the Genesis Crafty brand and the overall business.”