Buy-out of pork processor Ribworld set to salvage 65 jobs in Tipperary
Clonmel-based pork processor Ribworld has been bought out of receivership by M&M Walshe, part of the Callan Bacon Group.
The deal means that 65 jobs at the specialised pork rib processor have been secured at the Tipperary processing plant.
Receiver Liam Dowdall, of Smith and Williamson Freaney, had continued to operate the Clonmel plant as a going concern since his appointment by Bank of Scotland on November 4.
"We had a confidence that Ribworld would attract investment and we are pleased to secure the employment of a skilled labour force, which will be an important element of the continued future success of the company," said Mr Dowdall.
Ribworld is one of Europe's largest producers of pre-cooked pork ribs, operating a state-of-the-art processing operation in Clonmel, selling within Ireland and abroad. One of its biggest export markets was Scandinavia, home of Ribworld's founder Bo Nielson, who set up the company in 2004.
Callan Bacon is a family-run company based in Co Kilkenny, with a turnover of €40m a year and the capacity to produce 45,000t of fresh and frozen pork product annually.