Clearwater International UK has advised Seabrook Crisps Ltd (Seabrook), backed by private equity firm LDC, on its €25.7m (£23.5m) refinance, with funding provided by Apera Capital.
Established in 1945, Seabrook produces a range of crinkle cut, straight cut and premium lattice crisps, at its headquarters in Bradford, Yorkshire. The company supplies over 20 million bags of crisps each month and has a strong position as the major challenger brand in the category in grocery retail, value retail and foodservice.
Pan-European mid-market private debt investor Apera, is providing unitranche facilities which will support Seabrook in continuing its growth strategy, including further investment in product development.
The Clearwater International team was led by Partner Mark Taylor, with support from Associate Director Lachlan Dorrity and Associate Mark Ward.
Daniel Woodwards, Chief Operating Officer at Seabrook said: “With the support of Apera we have a strong opportunity to roll-out our growth strategy. This will allow us to further develop our brand in the UK and internationally whilst continuing to provide our customers with the highest quality product.
“Clearwater conducted a very professional process. The team has extensive knowledge of the debt market which gave us complete confidence throughout and we’re thrilled with the investment in our brand.”
David Wilmot, Partner, Apera Capital commented: “Seabrook is a long-established and highly regarded brand in the UK snacking sector, with significant growth potential underpinned by strong retailer relationships and a modern and efficient production infrastructure. We are pleased to be backing Seabrook’s refinancing and look forward to working with the management team and LDC as the company embarks on the next stage of its growth strategy.”
Mark Taylor, Partner, Clearwater International added: “Seabrook is one of the few genuine heritage brands in its sector. The business is well positioned for future growth, demonstrating great export potential with opportunities to develop the brand within independents and convenience channels.”