LDC sells Seabrook to Calbee

The sale comes 10 months after LDC refinanced the company with a £23.5m unitranche debt facility provided by Apera Capital.

Under the vendor's tenure, Seabrook has invested in its manufacturing capabilities and increased its range of products. It has also expanded its international distribution, entering new markets in the United Arab Emirates, China, France, Spain and Australia.

Over the course of the last three years, the business has expanded its headcount from 150 to 160, increased its turnover by 9% to £29.8m and its EBITDA by 28% to £5m, according to a statement.

Previous funding
LDC acquired Seabrook in 2015, in a deal reported to be worth £35m. The original transaction was backed by a senior debt package arranged by Clydesdale and Yorkshire Bank.

Company
Founded in 1945, Seabrook produces crinkle-cut, straight-cut and hand-cooked lattice crisps, as well as low-calorie snacks. The company is headquartered in Bradford, Yorkshire, and employs 160 people.

People
LDC – Simon Braham (investment director); Ged Gould (senior director).
Seabrook – Jonathan Bye (CEO).

Advisers
Vendor – Houlihan Lokey, Shaun Browne, James Scallan (corporate finance); Addleshaw Goddard, Paul Medlicott (legal).

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• Topics
• Exits
• UK / Ireland
• Consumer
• United Kingdom
• LDC
• Trade sale
• Houlihan Lokey
• Addleshaw Goddard