Tayto takeover saves 195 Pringles jobs

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The Independent Online

The administrators of the crisp maker Golden Wonder sold its Pringles Minis business to the Irish snack and crisp company Tayto yesterday, safeguarding 195 jobs.

The business, which makes Pringles Minis for Procter & Gamble and is based at Corby, was sold for an undisclosed sum. All 195 jobs will transfer to Tayto.

Golden Wonder collapsed into administration this week, threatening the loss of 850 jobs and putting brands such as Golden Wonder, Nik-Naks and Wheat Crunchies up for grabs. So far, 23 people (out of 120) have been laid off at the firm's headquarters in Market Harborough, Leicestershire. It also employs 350 people at Corby and 380 at Scunthorpe. The own-label operation at Corby will shut and production will move to Scunthorpe.

Golden Wonder has long battled against the market leader, Walkers, which is owned by the snack giant PepsiCo, and has suffered crippling losses.

The administrator Kroll said it had received more than 60 expressions of interest from bidders for other parts of the company, and will now narrow them down to formal offers. Joint administrator Adrian Wolstenholme said: "We are hugely encouraged by the incredible level of interest expressed in the business to date. This demonstrates that Golden Wonder is a wonderful brand and this still makes us hopeful that a sale of all or parts of the business can be secured."

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