MBM Produce has sold its £27m a year fresh potato division to Lincolnshire based QV Foods headed by multi-millionaire farmer Duncan Worth.
Pepe Bascetta, who became the principal shareholder of MBM following the buy out from Premier Foods, said the 140 jobs affected by the sale at the company's sites in March, Cambridgeshire, and in parts of Norfolk, Lincolnshire and Scotland would transfer to QV Foods.
“Both businesses have been competing head to head which was not a productive way of doing business,"said Mr Bascetta. "This is a more constructive way of moving forward. There will be no redundancies."
He said MBM would retain a significant part of the business, mainly on the industrial side involving peeling operations and these would continue at March.
Pepe Bascetta, who became the principal shareholder of MBM following the buy out from Premier Foods, said the 140 jobs affected by the sale at the company's sites in March, Cambridgeshire, and in parts of Norfolk, Lincolnshire and Scotland would transfer to QV Foods.
“Both businesses have been competing head to head which was not a productive way of doing business,"said Mr Bascetta. "This is a more constructive way of moving forward. There will be no redundancies."
He said MBM would retain a significant part of the business, mainly on the industrial side involving peeling operations and these would continue at March.
Businessman and farmer Duncan Worth- the fourth generation of the Worth family to run the family farms- owns 4,500 acres in South Lincolnshire with 850 acres given over to potatoes. They employ over 340 staff and with an annual turnover of about £50m.
