4th December 2018
3 years on from saving the business from Administration in a £7.5m deal, Seneca backed Foodpack Limited, the St Helen’s based specialist food manufacturing and packaging business, has been sold to Integrated Packaging Services Ltd (“IPS”).
This is the latest exit from Seneca’s EIS growth capital investment team and delivers a net tax free return of c.3.3x for their investors.
Tim Murphy of Seneca, who was a Director of Foodpack throughout the investment, commented:
Making a success of a business bought out of Administration is notoriously difficult and involves many highs and lows along the way. Bringing Foodpack back from the brink and turning it into a high quality operation has been a great result for our Investors and all stakeholders, not least the 150 colleagues who work in the business but also the wider community of St Helens that benefits from those jobs being secured....