The new owners of horse feed company Pure Feed say they are “incredibly excited” about the opportunities to develop the brand, which has been bought out of administration.
Parakore Limited bought the “goodwill and assets” of the company from administrators on 2 December, and have got production back up and running.
The business had survived the disruption caused by the coronavirus pandemic but then faced “unprecedented” increases in the cost of raw materials, as well as a shortage in supplies caused by the Russian invasion of Ukraine, and the huge rise in energy costs.
Having worked through these issues, a major supplier “imposed a significant change in trading terms, causing critical cash flow issues”, and the company went into administration in November.
A spokesman for the new owners told H&H production was up and running within 10 days of the sale, and that they are “100% focused on allowing this amazing brand to continue to unlock its true potential by bringing their considerable industry experience, increased levels of capital investment and enhanced marketing capabilities to bear”.
Managing director Chris Spratling told H&H he and his fellow directors are “incredibly excited about the opportunities to develop this amazing brand”.
“The outcry from loyal customers, retail and trade alike, was all the evidence we needed to realise just how cherished the brand is and what a great opportunity exists to develop it further,” he said.
“We appreciate just how difficult the production delays caused by the administration were for customers but rest assured, we’ll be working tirelessly to rebuild the brand’s reputation for quality and service and ensure that customers across the UK have access to this fantastic feed range. Wholesalers and retailers across the UK have already been able to order stock to meet pre-Christmas demand and we expect our website to begin taking orders again on 23 December ready for delivery in early January.”
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