Seabrook Crisps has been sold to Lloyds Bank for £35 million in a management buyout.
The Bradford-based firm, which employs 150 staff and produces 20 million crisp packets per year, has been bought by its senior management and Lloyds’ buyout branch LDC.
LDC say the business has “consistently outperformed” the £1.1bn UK crisp market, increasing its retail sales value year-on-year by 12 per cent.
Seabrook chief executive Jonathan Bye, said: “As the main challenger brand in the category we wanted to keep momentum and the same culture and expertise that helped deliver our growth so far.”
The deal comes after LDC’s recently announced its plans to invest £1.2bn in mid-sized UK companies. LDC will take up two seats on Seabrook’s board, and a chairman will be appointed soon.
No comments yet