The Byron Bay Cookie Company, which was placed in voluntary administration earlier this year, has been sold to pasta manufacture, the Rinoldi Group.
In March, the manufacturing arm of the Byron Bay business was confirmed to be in voluntary administration, just weeks after revealing plans to launch its franchise model.
The sale, which is expected to be completed on 22 July, 2013, includes all trademarks and the properties the company trades from in Byron Bay.
Receiver and manager of Byron Bay Cookie Company, Price Waterhouse Coopers (PwC) Partner Derrick Vickers said he was pleased the business will be sold as a going concern to an established Australian food manufacturer.
“The sale of Byron Bay Cookie Company to Rinoldi is great news for Byron Bay, the business and its employees, as well as its suppliers and customers. It also helps secure the future of an iconic Australian food brand,” Vickers said.
“PwC will work with the new purchasers over the coming weeks to ensure a smooth transition.”
“I would like to take this opportunity to thank all the loyal customers and suppliers for their support since we were appointed because without them we would not have been able to continue trading and achieve this outcome.”
Rinoldi Pasta is one of Australia’s oldest and leading manufacturers of pasta products.
Originally founded as a pasta manufacturer in 1878, the company has continued to grow into export markets, and also produces a range of snack foods.
The Rinoldi Group, with its national manufacturing and distribution operations and a track record in exports, is in a good position to grow the Byron Bay Cookie Company business in both its current market segments and export markets.
It is unknown if the company will continue its franchise model, which saw it open six outlets in February. The Byron Bay Cookie Company also has four concessions in department store David Jones.