Tony Reynolds, managing director of Reynolds, which has eight satellite depots, said: “Both businesses share similar family values of excellent quality and service, but have their own, unique and enviable customer base. I am incredibly excited about the opportunities that lie ahead.”
Solstice will retain its identity, but with the support of the new owner, whose annual turnover is around £190 million.
Benjamin Wiles, joint administrator and managing director at Duff & Phelps, said: “The sale has facilitated business continuity and has preserved the jobs of Solstice’s entire workforce. We expect the business to go from strength to strength under its new ownership as part of a successful larger fresh fruit and vegetable business.”
As well as supplying fruit & veg to foodservice operators, Reynolds deals in dairy products, fresh fish and meat.
The company, whose head office site has an area of 240,000 sq ft, has the use of 260 vehicles and trailers, making deliveries throughout the UK. Its customers include Pret a Manger, Whitbread and Sodexo.