YPM to continue following management buy-in
Yorkshire Premier Meats is set to continue trading following the acceptance of a management buy-in (MBI).
The ANM Group board has announced it has decided to support the MBI of its Yorkshire division, saying it recognised the stablisation of the business that has been achieved.
The team behind the MBI includes the current managing director of the ANM Group Meat Division, Jim Jaffray, and Keith McCall, the ANM Group’s finance director.
In a statement, the company said: “Jim and Keith, along with Pat Machray OBE, the ANM Group chief executive, have been responsible for the highly successful turnaround and restructuring of ANM’s Meat Division to date and have over 40 years of industry experience between them.
“In the course of 2012, the Yorkshire Premier Meats business has been returned to a position of break-even trading and is enjoying good trading relationships with its main suppliers and customers.”
It said the decision now left the MBI team free to finalise funding and it expected the deal to complete within the “next month or so”.