Onside Issue 4 - 6

ONSIDE / NEWS

Seneca investment targets food and drink growth with Foodpack

S

eneca has backed Foodpack Limited in its acquisition
of the trade and assets of Kapak Foods Limited from
the administrator, FRP Advisory LLP.

The St Helens-based business is a food packing specialist that
counts household names in the food and beverage sector,
major retailers and contract manufacturers amongst its
customers. Kapak was founded 16 years ago and reported a
turnover of £17m in its most recent accounts. The deal price
was not disclosed but the business has experienced difficulties
in recent months, culminating in it entering administration.
The investment ensures the business will continue to trade
and secures the jobs of its 150 staff. The news has also been
supported with a refinancing package from Secure Trust
Bank and the business will trade as Foodpack Limited.
Alistair Marsden and Anthony Hitchen, both experienced
food industry professionals, have joined the business as
senior directors and will sit on the board of Foodpack.
The company moved to its current 80,000 sq. ft. food
production unit in 2013 and its workforce includes product
development staff, food & packaging technologists and
food production professionals.

Richard Manley, who worked on the deal for Seneca Partners,
said: "We've introduced a team in Alistair and Anthony who
are respected throughout the food industry and who can drive
the business forward, building on its undoubted strengths. We
have every confidence in the potential to develop Foodpack in
the sector. We managed to complete this transaction in a very
short timescale thanks to the support of Secure Trust Bank
and our legal team at Napthens."
Alistair Marsden, whose previous roles include managing
director at two food production companies in the North
West, said: "The business has a committed and skilled
workforce, supported by a strong management team, which
when combined with state of the art production facilities
creates a strong base from which to support existing
customers and grow the business. We are excited about the
future for Foodpack and are looking forward to working
with the existing team and customers."
Richard Robinson, Sharon Harrison and Jane Haymes of
Napthens acted for Seneca. David Green of Secure Trust Bank
Plc provided working capital, asset finance and term debt.
Tim Murphy, Richard Manley, Connor Grimes and John
Davies worked on the deal for Seneca.

"We are excited about the future for Foodpack
and are looking forward to working with the
existing team and customers."

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