Thu, 28 Nov 2024 | BUSINESS SALE
Leicester-based food packaging firm Clifton Packaging has been snapped up by a private equity owned Italian rival.
Clifton, which was founded in 1981 in London as wholesalers of plain carrier bags and paper bags for retail outlets, is now Leicester based and a manufacturer of flexible packaging materials especially for the snack food, confectionery, bakery, health food, wet protein and other FMCG markets.
It posted a pre-tax profit of £3.4 million in the year to December 31, 2023, up from £2.6 million in the previous year.
It said it had been helped by customers increasingly looking to differentiate themselves in a more competitive marketplace through their packaging.
The company has been sold to Carton Pack, an Italian firm specialising in packaging production for the food industry. It is a portfolio company of A&M Capital Europe (AMCE), a London-based private equity firm.
The transaction is Carton Pack’s sixth acquisition since 2020, and the third since AMCE acquired a majority stake in the group alongside the founding Leone family in April 2022.
Following the deal, Clifton will continue to operate under the leadership of its management team led by chief executive officer Shane D’Souza. It also provides an exit for Clifton founders Shahid Sheikh OBE, Zed Sheikh and Tahir Sheikh.
“We are delighted to welcome Clifton Packaging into the Carton Pack Group,” said Gianni Leone chief executive of Carton Pack Group. “The acquisition represents a vital step in our global strategy to deliver both plastic and paper sustainable packaging solutions on a larger scale to the food industry. This partnership not only expands our product range but also strengthens our capacity to serve clients across Europe and beyond, further reinforcing our commitment to quality, service and innovation.”
D’Souza added: “Together, we are poised to redefine the future of packaging by leveraging our combined strengths to deliver unparalleled value to our customers and make a positive impact on the environment.”
Freeths advised the Clifton Packaging shareholders on the deal, while KPMG provided corporate finance advice.
Find out why PE firms are feeling more optimistic about doing deals in the UK
This is a rare opportunity to acquire a leading food manufacturer specialising in South East and East Asian cuisine, with a strong foothold in the UK and European markets, supported by robust supply chains and long-standing customer relationships.
This business opportunity offers a well-established company in South East England that specialises in high-quality insulation and renewable solutions, operating across diverse sectors and supported by strong client relationships and a dedicated manag...
An established specialist provider of air conditioning, EV charging, heating solutions, and solar panels is available for acquisition, offering a comprehensive service package and robust customer base across the UK.
30
|
Apr
|
Westcotts buys agricultural specialists Douglas Green | BUSINESS SALE
South West chartered accountants and business advisers Westc...
29
|
Apr
|
Palletower continues acquisition spree with Alternative buy | BUSINESS SALE
Sale-based storage and logistics equipment provider Palletow...
29
|
Apr
|
Ilkley Brewery bought out of administration | BUSINESS SALE
Businessman Graham Smith, has agreed an investment deal with...
17
|
Feb
|
PE-backed Solita buys digital group PUBLIC | BUSINESS SALE
Digital transformation firm PUBLIC Group International Limit...
11
|
Feb
|
PE group Endless sells Karnova Food Group to US outfit OSI | BUSINESS SALE
Private equity group Endless has sold Karnova Food Group to ...
11
|
Jan
|
LGW Group in concrete deal for Gloucestershire supplier | BUSINESS SALE
Bristol-headquartered construction company LGW Group has bou...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.