Jobs safe after food firm taken over
Published: 15:17, 16 December 2003
SPECIALIST food workers in Aylesford have been told their jobs are safe after the multi-million pound sale of an award-winning firm.
Bosses said it was business as usual after selling G Costa (Holdings), the producer and importer of oriental and speciality food brands, including Blue Dragon, to Associated British Foods (ABF) for an undisclosed sum.
The firm, a former Kent Exporter of the Year, employs 100 staff in Quarry Wood Industrial Estate, Aylesford, and a further 250 in Wales and Hertfordshire.
Tim Barlow, managing director, said jobs would not be affected. "It's very much business as usual, we're pleased and enthusiastic about the acquisition and that it takes the company to another level," he said. "It's good for Aylesford because ABF is a big food company."
Mr Barlow said the firm's ingredients for success included an excellent, well-motivated workforce, investment in systems and innovative brands.
Joining ABF, a £4.9bn multi-national with famous brands such as Ovaltine, Twinings, Ryvita and Silver Spoon, would give greater access to new markets, especially in North America and the Far East.
"Inevitably, you get more leverage with a bigger group. We certainly hope to use some of their contacts to increase our export penetration."
ABF is already a major supplier of rice and noodles in the UK through Westmill Foods.
G Costa (Holdings) will be run separately but alongside Westmill Foods and gives ABF a stronger presence in the market for ethnic foods.
"We are not planning any changes," Mr Barlow added.
G Costa was founded in 1879 and moved from London to Kent some 30 years ago.
The firm was involved in a management buyout five years ago, with help from the 3i venture capitalist group. Sales in 2002 reached nearly £52 million.
Blue Dragon products include sauces and ingredients used in Chinese, Thai, Japanese, Vietnamese and Malaysian cuisine.
As well as manufacturing a range of speciality brands, Costa also manages a substantial portfolio of brands for other manufacturers, including Tabasco, Maille and French's.
Although some of these products are produced in the UK, many are imported from Thailand, Malaysia, Hong Kong and Japan. Costa brands are sold in 50 countries.
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KentOnline reporter