A Belfast-based manufacturer and supplier of freshly made pre-packed sandwiches and snacks to the foodservice and retail sectors has a new management team after it was sold in a seven-figure deal.
A Belfast-based manufacturer and supplier of freshly made pre-packed sandwiches and snacks to the foodservice and retail sectors has a new management team after it was sold in a seven-figure deal.
The Brunch Box Sandwich Company, which counts airlines, ferries and several retailers, such as Asda, Spar, Supervalu, Centra, Mace and Costcutter among its clients, has been bought by new managing director John Weatherup, who has more than 20 years’ experience of the food sector
Weatherup, who previously held senior roles at RHM, Irwins Bakery, Holmes Catering and Ballymoney Foods, bought the company and its factory, after securing the backing of private equity firm Beltrae Partners and Ulster Bank.
Under the terms of the funding agreement, Beltrae director Ciaran Rafferty becomes a non-executive director of Brunch Box.
Weatherup was introduced to Brunch Box as a buy-in candidate by Beltrae, which has become a major shareholder in the company following completion of the deal. The new managing director also becomes a significant shareholder, as do other members of its management team.
Beltrae’s investment was complemented by debt provided by Ulster Bank, which was arranged by corporate banking senior manager Christopher Shephard.
Shephard said Brunch Box is a successful business with a strong client base. “The buy-in team considered the current financial position of the company to be healthy, but also saw significant opportunities to add value and grow business with new and existing customers.
“The pedigree of the new management team will position Brunch Box strongly for future growth,” he added. “Beltrae Partners and Ciaran Rafferty also have strong track records with regard to adding value to businesses following management buy-ins, which will be a considerable asset to the company going forward.”
Brunch Box was established in 1994 and operates from a self-contained factory in Dundonald Enterprise Park in East Belfast. It employs 40 staff and manufactures an average of 50,000 sandwich and snack units per week.
