Administrators complete sale of coffee recycler

Administrators Paul Ellison and David Taylor of KRE Corporate Recovery have announced the sale of substantially all of the business and assets of Bio-bean Limited to Envar Composting Limited, a company that is part of the Countrystyle Recycling Group of Companies.

Bio-bean was a Cambridge-based business that entered administration on 3 April. It was touted as the world’s largest recycler of coffee grounds. The company would take spent coffee grounds and transform them into sustainable products, in particular coffee logs for home burners.

Commenting on the sale, Ellison said:

“There was significant interest in the business which is testimony to the innovative product which is likely to become more and more in demand over the next few years and it was pleasing to achieve a sale of the entirety rather than breaking the assets up.”

Trevor Heathcote, Countrystyle’s Chairman commented:

“This was a great opportunity for us to acquire a business which will complement our existing businesses and we have high hopes of introducing the product to more and more retailers in the years to come.”

The administrators were assisted by Hanh Nguyen at CRS and Hilco on the assets.