A luxury ice cream maker in Wales has been freed from administration after its new managing director bought the business. 

A luxury ice cream maker in Wales has been freed from administration after its new managing director bought the business.

Hill Station, which includes Yorkshire Dales, Thayers and Granelli among its brands, was acquired by David Levelle and venture capitalist Acuity Capital, who formed Loseley Dairy Ice Cream to complete the deal.

The AIM-listed Cwmbran company was put into administration after racking up debts of £6 million. It was sold by Gareth Roberts and Paul Ellison at Tenon Recovery, in a deal that included two of its subsidiaries.

Acuity was advised by John Riddick in the Newbury office of law firm Thomas Eggar LLP.

Riddick said that since helping to close the deal, the new owners have retained the firm as an adviser. “Thomas Eggar is pleased to have helped Acuity and, more significantly, ensured that many jobs at the company are now in safe hands in what are difficult economic times.”