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£200k investment after firm's rescue
LEEDS wholesalers Morris and Son, who rescued a Lancashire business last year, have just ploughed £200,000 into it.
Morris and Son took over Stockley's Sweets, of Oswaldtwistle, in November, saving the 90-year-old firm from administration and securing 38 jobs.
Now it is relocating the confectionery maker to Blackburn to a 20,000 sq ft site on a business park.
All the manufacturing and packaging processes are now on one site and the business has gone from strength to strength in the last 10 months.
Morris and Son provided more working capital to improve the supply chain and expand the range of confectionery products.
Andy Needham, chairman of Stockley's and managing director of Morris, said: "The new factory has allowed us to streamline operations, and reduce transportation and duplicated costs.
"It will vastly improve our efficiency."
Mr Needham became majority shareholder in Morris and Son when he bought it through a management buy-in in August 2003.
It has since consolidated its position as a supplier, primarily in the discount food sector, and has just completed its most successful trading period yet with turnover exceeding 15m last year.
It now employs 80 staff across four sites.
Morris and Son's core product range includes cakes, confectionery, snacks, soft drinks, toiletries and household products. It specialises in buying and selling in bulk so it can pass on savings to customers.
It acquires excess stock and deals in end-of-ranges, discontinued lines, clearance lines, stock in old packaging or stock nearing its sell-by date.
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Wednesday 23 May 2012
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