Single Source acquires Chequer Foods in Portion Control Buyout.
PortionPack Europe Group, the leading European specialist for portion packs and owner of Single Source, has announced that it has acquired CustomPack Ltd, formerly known as Chequer Foods Ltd, from Selecta Group.
CustomPack focuses on the provision of single portion items such as wet sauces, dry products and portion packing to its clients from its assembly facilities in Telford UK. The business generated net sales in excess of €20 million in the 12 month period to end-June 2018.
David Flochel CEO of Selecta Group, commented: “CustomPack is a good solid business. However, given our focus on being the leading unattended self-service convenience food and beverage operator in Europe, we feel CustomPack is non-core and that its future growth can be better supported by a new owner. PortionPack operates in the same industry as CustomPack, understands how the business works and can drive the business forward. Selecta will continue to source products from CustomPack.”
PortionPack Europe CEO, Sidney Moll, commented “We are delighted to welcome CustomPack Limited to the PortionPack Family. CustomPack specialises in portion packing which is at the heart of our group and the company will sit alongside Single Source Limited, our existing UK portion pack business, also based in Telford Shropshire. The management team will now explore synergies and how the two businesses can operate in tandem to enhance our customers’ experiences and continue to serve the UK and Ireland Foodservice market with “Passion for Portions”.
The financial terms of the transaction have not been disclosed.