The Real Good Food Company said it is "confident current market expectations will be met", as MD John Gibson stepped down.
Stephen Heslop, MD of its bakery and baking ingredients divisions, assumed executive responsibilities for the group upon Gibson’s departure on 11 July.
A pre-close statement said that sales in the bakery ingredients division had been slow. But the company is confident Renshaw will recover the shortfall.
In the bakery division, sales volumes are ahead of last year. These include Hayden’s Bakeries and Seriously Scrumptious.