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Kapak Foods saved in pre-pack administration deal

1 October 2015

The North West food packaging firm has been bought by a new company, Foodpack Limited in a pre-pack administration deal.

Despite sales of £17 million, the company suffered significant trading losses. Immediately after the appointment of administrators FRP Advisory, the company was acquired by Foodpack Limited, saving 150 jobs. 

Based in St. Helens, the food packaging business employs product development staff, consultants and packaging technologists.

With backing from Secure Trust Bank and Seneca, the business can continue trading. The new senior director for Foodpack commented, “The business has a committed and skilled workforce, supported by a strong management team, which when combined with state of the art production facilities creates a strong base from which to support existing customers and grow the business. We are excited about the future for Foodpack and are looking forward to working with the existing team and customers.”

A pre-pack administration deal is an efficient way to sell the business and its assets to a third party or new company to ensure it can continue trading whilst saving jobs. For more information on this insolvency method, visit our pre-pack administration page.