Houlihan Lokey Advises Seabrook Crisps

Houlihan Lokey is pleased to announce that Seabrook Crisps, a portfolio company of LDC, has been acquired by Calbee. The transaction closed on 2 October 2018.

Seabrook produces a range of crinkle cut, straight cut, and lattice crisps, as well as low-calorie snacks, from its headquarters in Bradford, UK. Today, it produces more than 250 million bags of crisps a year, which are enjoyed by consumers worldwide, having successfully entered new markets including the United Arab Emirates, China, France, Spain, and Australia.

LDC backed the management buyout of the business in July 2015 to support its growth. Over the past three years, Seabrook has continued to invest in its manufacturing infrastructure, launch a number of new products, and expand internationally. The deal sees Seabrook join Calbee UK, a subsidiary of global snack company, Calbee Inc, which already boasts Yushoi, Rustiks, and Harvest Snaps among its portfolio.

Houlihan Lokey served as the exclusive sellside advisor to LDC. The transaction demonstrates Houlihan Lokey's continued strong franchise in snacks, having recently advised on the five largest UK potato crisps deals (including the sale of Seabrook to LDC in 2015) and six UK popcorn deals.

Jonathan Bye, Chief Executive of Seabrook, commented, "Houlihan Lokey's knowledge of the global snacks market and international contacts really differentiates them. They provided senior-level advice throughout the sale process utilising their breadth of experience and expertise to help deliver a successful outcome for all parties."