London-based manufacturer The Bagel Group, which filed for administration earlier this month, has been sold to a new company, Mr Bagel’s Limited, as a going concern. The business has been acquired by the Mansouri family for an undisclosed sum.
According to a statement released by the new firm, the purchase has been backed by Kevin Mansouri, who has appointed previous MD of The Bagel Group, Paul Kahalani, as a consultant adviser to the business.
Under the terms of the acquisition, the business and other assets were sold to Mr Bagel’s on 28 January, according to administrator MCR Corporate Restructuring.
Paul Williams, a partner at MCR, said it had been able to preserve "the majority of jobs in the company".
According to the Mansouri’s, the business is seen as "an exciting opportunity for growth", and it will look towards offering a "broader range of food products", such as confectionery.
Kahalani said: "The new plans will enable the company to accelerate the growth of the business." He added that the company is also hoping to expand its employment requirements soon.
Mansouri said he was "excited" to back the acquisition and sees significant growth opportunities.
The company, previously known as Mr Bagels plc, reportedly produces around 150 million bagels a year under its Mr Bagel’s and Natural Bagel brands, supplying the retail and foodservice markets.
The Bagel Group hit national headlines in December after alleging an executive at rival Maple Leaf Foods was involved in attempted price-fixing, an allegation that is still under investigation.
Mr Bagel’s Limited was registered at Companies House on 13 January 2009.