The MBO has been led by Seabrook chief executive Jonathan Bye. © Richard Walker/Seabrook Crisps
Seabrook Crisps has completed a management buyout backed by leading mid-market private equity house LDC, as the business embarks on a major growth drive to continue to increase its market share.
The business has a retail sales value of £33m and year-on-year growth of 14.5% – significantly higher than the 4.2% growth across the overall UK crisp market. The management buyout has been led by chief executive Jonathan Bye and a management team consisting of marketing director Kevin Butterworth, COO Daniel Woodwards and commercial director Jon Woods.
The transaction will see a full exit by owner Ken Brook-Chrispin, who led a buyout of other family shareholders in 2006.
Jonathan Bye commented: “LDC’s support for the MBO of Seabrook Crisps is great news and will help us to not only deliver but accelerate our growth plan. It will enable us to invest both in our operations to drive further efficiencies and flexibility and to increase marketing investment to continue to build the brand’s national profile.
“Importantly, this will drive the business forward with the same team that has put our winning brand strategy in place. 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.”
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