St Neots Packaging
St Neots Packaging is a manufacturer of paperboard fast food disposables and packaging products. Products range from sandwich boxes to hot drinks cups and fast food kids meal boxes and packs. The company has been at the forefront of new product design in its chosen markets to develop more environmentally sustainable packaging and to increase shelf-life of its customer products.
The business has two sites in Cambridgeshire to meet all printing and manufacturing requirements and also has a sourcing office in Hong Kong. Endless acquired a significant minority stake in a management buyout of St Neots Packaging in April 2008. The company had grown quickly and required a new partner that could support the business both financially and strategically as it entered its next phase of growth.
Since the transaction took place the company’s sales increased by 15% per annum. Endless supported investment in a new state of the art manufacturing facility to increase capacity and to produce a new, innovative and environmentally friendly sandwich pack.
After a period of rapid entrepreneurial growth, Endless, in conjunction with the MBO team, strengthened the management team with the appointment of a new Chairman, Finance Director and Operations Director. These appointments have given the business a strong platform to continue the company’s ambitious growth plans.
The Endless team completed this transaction in six weeks after introduction in order to meet the change in capital gains tax regime in April 2008, which was essential to the vendors. Such speed exemplifies the Endless difference in executing a deal at market leading speed. Endless also used its Connections network of managers to help strengthen the management team as the business grew.
St Neots Packaging was acquired by Coveris in June 2014, for an undisclosed value. Under the stewardship of Chairman Andrew Ducker, the company had delivered consistent growth in its sales and profitability in recent years, making it an attractive target for numerous trade competitors and realising a strong return for shareholders.