236 jobs saved: Baronie acquires Ashbury Chocolates

By Oliver Nieburg contact

- Last updated on GMT

Ashbury Chocolates saved from administration by Baronie
Ashbury Chocolates saved from administration by Baronie

Related tags: Marketing, Chocolate, Types of chocolate

Baronie has acquired UK private label chocolate firm Ashbury Chocolates, which entered administration earlier this month.

BDO LLP business restructuring partners, Malcolm Cohen and David Gilbert, were appointed joint administrators of Ashbury Chocolates Limited on 9 February. 

BDO said in a statement that the private label chocolate sector had lost market share to brands in recent years and said Ashbury had also suffered from rising raw material prices

Private label chocolate market share in the UK went from 5.2% of the overall UK chocolate market in 2007 to 4.7% in 2012, according to Euromonitor International. The world market for private label chocolate also declined from 4.4% to 4.1% over the same period.

Corby-based Ashbury Chocolates produces private label chocolate for supermarkets in the UK, Europe and Australia and also sells its own brands Needler’s and Blue Bird. Around 70% of the company’s business comes from the UK and its customers include many major UK supermarkets.

Belgian firm Baronie’s UK subsidiary acquired Ashbury for an undisclosed sum, marking its second acquisition in six months after snapping up Belgian chocolatier Duc d’O​ in September 2014.

Malcolm Cohen, BDO business restructuring partner, said:  "We are pleased to have concluded the sale of the business and assets of the Group, preserving 236 jobs.  The sale was the best option to secure the future of the business, enabling it to move forward confidently and on a secure financial footing.”

Related topics: Manufacturers, Chocolate, Outsourcing

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1 comment

Poor Picture

Posted by Ian,

Could you have found a picture of any worse quality chocolates? Covered in bloom and full of bubbles.
Ashbury may not be at the top of the quality tree, but this makes them look awful.

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