The purchase included FoodPack’s 7,432m2 facility and nine-acre site in St Helens, Lancashire, as well as the producer’s 150 staff.
The company produces a range of ambient foods for both own-label and branded manufacture for a number of retailers and brands across the UK, offering a “total design to delivery service”.
IPS chief executive Andrew Dawson said the deal would create one of the largest co-packing/co-manufacturing businesses in the UK.
‘A great fit’
“Significant investment across the IPS network throughout 2018 – and the purchase and extension to our Featherstone site – has meant that we have been moving increasingly into the co-packing and co-manufacturing markets,” said Dawson. “As a consequence, we approached FoodPack earlier this year. It didn’t take very long for both businesses to see that this was a great fit.
“IPS are committed to growth and this acquisition presents a natural step on our journey. We have been aware of FoodPack and their success over the past three years. The business has a great reputation, an excellent location and massive scope for further growth.”
FoodPack managing director Steve Smith said the acquisition would help broaden the scale and reach of the business very quickly.
He added: “By coupling our co-manufacturing knowhow with the experience of IPS and, of course, a commitment to investment, FoodPack can now look forward to steady, sustainable growth whilst concentrating on what we do best.”
Reportedly the largest co-packer in the UK, IPS works with food brands to provide co-packing, co-filling and co-manufacturing services.
IPS is set to finalise the details of the FoodPack acquisition in the coming weeks.
Meanwhile, the Agriculture & Horticulture Development Board has completed the sale of its carcase classification arm Meat and Livestock Commercial Services Limited.