The future of one of the region’s best known companies has been secured following support from Tyne and Wear Development Company.
Assistance from the agency has helped Villa Soft Drinks secure the investment needed to continue trading and safeguard more than 25 jobs.
Villa, which has been producing drinks for over a century, has been bought out from the administrator by its new management team led by Malcolm Slatcher.
Investment experts from Tyne and Wear Development Company worked with Malcolm and his team for several months, eventually helping them secure a Grant for Business Investment (GBI) from One North East and vital support from Sunderland City Council. The funding was used to purchase Villa’s Sunderland site as well as machinery from the administrator.
The new management team has set up a new company to complete the buy-out, which will continue to trade under the Villa name, selling drinks around the world.
Malcolm, who has worked in the drinks industry for over 20 years, said: “This project heralds a new dawn for Villa Soft Drinks and I am delighted we have been able to prevent the closure of this much-loved North East brand.
“There is a first class team of employees who now have their jobs safeguarded and we have the opportunity to take Villa forward and realise its full potential. Tyne and Wear Development Company was a real source of support.”
Cllr Bryan Charlton of Sunderland City Council said: “Villa is an institution in Sunderland and recognised internationally. Its tradition, facilities and skilled workforce make it a good business proposition. Trading conditions are tough in the current climate but this support is the stimulus the firm needs to continue trading and go from strength to strength.
Paul Buie, manager of Tyne and Wear Development Company, said: “As well as attracting new inward investment to the region, a key part of our remit is to assist established companies like Villa. This is an excellent example of that and it’s good to see so many partners working together to support local businesses.”