European fresh produce giant Total Produce has acquired Burtons Go Bananas, a supplier of fresh fruit and vegetables to the UK catering trade, it has emerged.
According to corporate rescue specialist Begbies Traynor, which oversaw the company's sale to Total Produce subsidiary Bristol Fruit Sales (now trading as Total Produce Bristol) for an undisclosed fee, the Dublin-based group has taken a three-month licence to occupy Burtons' freehold premises in Avonmouth while a buyer is sought for the building.
Burtons has been in business for 16 years, having traded as a partnership prior to incorporating in 2005. Despite an annual turnover of £4m (€4.97m), the company went into administration earlier this year.
Burtons' acquisition by Total Produce has apparently safeguarded the employment of more than 30 staff 'for the foreseeable future', Begbies Traynor reported.
Jason Burton, who has been in charge of the family-run firm following his father's recent illness, will continue to play a role in running the business.
Neil Vinnicombe, partner at Begbies Traynor, commented: 'The business was suffering from cash-flow difficulties and, following the threat of withdrawal of support from major suppliers, it became clear that administration and subsequent sale was the only realistic option for ensuring the continuity of business, preserving jobs and securing as much as we could for creditors.
He added: 'Had the sale not been achieved the company would have to be placed into liquidation and all jobs lost.'
