Foyle Food Group buys up Gloucestershire abbatoir with backing from Ulster Bank
A Northern Ireland food processor has bought an 80,000 square foot abbatoir and meat plant in the south west of England, saving 130 jobs at the site.
Foyle Food Group bought the site at Cinderford in Gloucestershire with backing from Ulster Bank through the Funding for Lending Scheme, which will also provide working capital.
The plant was previously owned by third generation family business Ensors which had been placed in administration. Foyle Food Group said it would use the site to service growing volumes of business with retailers across the UK and Europe.
"Ulster Bank was able to support Foyle Food Group's first acquisition in England in August 2012, with the purchase of premises in Melton Mowbray, and we're pleased to help the company continue to grow with this latest investment," Corporate Banking Relationship Director at Ulster Bank, Damien Long said.
The Funding for Lending Scheme allows companies to borrow money from the Bank of England at cheaper rates providing they pass on the savings to businesses.