Regale Microwave Ovens has now completed the buy-out of its sister company Cavity Protection Systems (CPS).
CPS’ financiers, Alex Grant and Nigel Barker resigned their directorship earlier in the year.
Although a request for the company to be struck off at companies house has been made, Regale has made sure that the Cavity Protection Systems name will live on, as the logo and name are registered trademarks which are now owned by the microwave supplier.
The buyout included all the trademarks, patents and intellectual property (which was in the name of CPS and the directors and inventors of the CPS Microsave cavity liner: Patrick L Bray and Barry Clark).
All stock, plant and materials including the production tools and their design were included in the buy-out.
With the firm completely under the control of Bray and Clark, this means that all existing agreements made by the former company are now being renegotiated with Regale, which has guaranteed any outstanding debts (currently nil).
Clark said: “This is a very exciting time for Regale, as since the concept of the Microsave cavity liner was re-launched at Hotelympia 2014, the hundreds of thousands of pounds spent in promotions, plant etc. is now coming into fruition.
“We are now able to consolidate our trading position with exclusivity of the Microsave liners for Panasonic and Daewoo microwave ovens in the UK, giving our dealerships an advantage over their competition as members of the ‘Regale dealer network’.
“We will continue to produce our products at an extremely competitive price as we enter into exporting not only to Australasia (for the past 12 months) but have now signed an exclusive distributor agreement for Europe with CAP Performance (France).”
He underlined: “Although one or two other manufacturers have produced a different type of liner (in order not to contravene our patents, design rights and trademarks) they do not take into consideration airflows, cavity illumination, leaving gaps so that spills are not retained and ‘old food’ gets trapped in the lining.
“Neither of them have full NSF worldwide certification for hygiene and safety nor are ‘approved products’ by the UK’s Craft Guild of Chefs.
“Regale is proud to have both these qualifications. There are now over 15,000 units in daily use in the UK.”