Unitech Industries has announced that it has acquired the assets of catering and refrigeration specialist Valera, including the purchase of an agreement between Valera and Sanyo that secures the provision of spare parts for Sanyo microwaves for a period of seven years.
The new business, Corsair Wholesale incorporating Valera, headed up by Pratap Gadhvi, will start operations from Corsair Engineering's two acre site in Banbury where it will have its own dedicated office and warehouse facilities.
The bulk of Valera's key suppliers have agreed to support the new venture and so the net effect is that, although technically a start-up, the new company will have a familiar portfolio of industry-leading products in its range, ready to meet the needs of the many customers who have been awaiting a resolution after Valera went into administration in mid-October.
Nick Imlah, chief executive officer of Unitech Industries said: "Having succeeded in concluding this deal in the face of strong competition, we see this as a great opportunity to re-launch one of the foodservice sector's most respected brands.
"This is an exciting step forward for Valera and we look forward to being part of the hugely successful Unitech Industries Group.
"It is our intention to affiliate the new business with the main trade associations including CEDA, CEDABOND and the FCSI at the earliest opportunity and I would also like to take this opportunity to thank our suppliers and distributors for their support during this period of change" added Gadhvi.
By Lisa Jenkins
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