Around 1,500 jobs have been saved from the axe after the owners of Malton Bacon Factory reached an agreement to sell its UK pork business in a management buyout.
Vion, the Dutch-based food producer, made the announcement to staff, ending weeks of uncertainty for workers at one of the area’s largest employers.
The deal, led by Seamus Carr, managing director of Vion’s Pork Business, is backed by private equity firm Endless.
Vion had made the decision to sell its UK food operations, which employs 38,000 people at 38 sites, including many Scarborough workers at the Malton factory, and focus on its core food activities in the Netherlands and Germany.
Discussions are ongoing with a number of prospective purchasers for the company’s other UK business units for poultry and red meat.
But the deal to sell its pork business and save the factory at Norton Grove Industrial Site, known locally as Malton Bacon Factory, has been welcomed by local civic leaders.
Cllr Di Keal, the Mayor of Norton, said: “The management buyout is excellent news for Norton and especially the employees at the factory and the supporting farming community throughout Ryedale.
“In these times of economic doom and gloom it is great to hear some good news which will hopefully allay the fears of local families and add some much needed cheer in the run-up to Christmas. I understand talks are still ongoing with the new owners but this is very positive news for our town.”