Cheese supplier to London's top hotels saved in management buy-out

The cheese wholesaler that supplies some of the countries top hotels and groups, including the Ritz in London, has been rescued from administration after a management buy-out.

London-based H&B Foods, which owns the Huge Sauce Company and the Cheese Cellar Company, supplies hotel groups Hilton, Marriott and De Vere.

It also counts Radisson Edwardian and the Mandarin Oriental hotel in Knightsbridge as clients, as well as restaurant groups Nando's, Café Rouge owner Tragus Group and Carluccio's, as clients.

The management buyout, which was lead by H&B founders Nick Martin, Jonnie Archer and Simon Yorke with backing from investment bank Straumur Burdaras, safeguards 300 jobs, after parent company Novel Group was placed into administration.

A spokesman for Straumer Burdaras said: "The Cheese Company will be profitable from day one. We agreed to help finance the deal because we believe in the management's vision for the business and its future prospects."

Novel Group also owns the Fresh Olive Company, which employs 100 people. The business will continue to trade while administrators seek to find a buyer.

Regent Inns to delist from stock market >>

Gold standard Brie from the Cheese Cellar >>

Owner Hotels on the edge of administration >>

Administrator to buy out GuestInvest investors >>

By Gemma Sharkey

E-mail your comments to Gemma Sharkey here.

Caterersearch.com jobs
Looking for a new job? Find your next job here with Caterersearch.com