SEABROOK Crisps Ltd have been bought for an undisclosed sum by a subsidiary of a Japan-based global snack company.

And the Seabrook chief executive says the deal with Calbee (UK) Ltd is great news for the company's employees and its future.

Jonathan Bye said: "I'm delighted with the deal. It's a great result for everybody.

"It is fantastic for job security and future plans.

"Calbee have a track record of investing and this will really leverage the potential of the brand."

He said the deal means it will be business as usual for Seabrook, which employs about 160 people and will continue to operate from its Bradford base. He said the staff had been reassured about their futures.

Seabrook produces a range of crinkle cut, straight cut and lattice crisps, as well as low-calorie snacks, from its headquarters in Bradford. 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.

Mr Bye added: "If we could have hand selected a business like this it couldn't have turned out better.

"It cements the business in Bradford and Yorkshire. They will invest in the site and we will see significant growth in the brand.

“This development will enable us to build upon these successes. It’s an exciting time for our people, customers and suppliers as we embark on the next phase of our growth journey. 

"We have ambitious plans and are looking forward to delivering these as part of the Calbee family. There are certainly exciting times ahead.”

He added: “On behalf of the management team and everyone at Seabrook, I’d like to thank LDC for its commitment and support. Since LDC invested in our business in July 2015 the team has gone above and beyond, partnering with us to invest in our facilities and prime the business for future growth.

“The team invested more than £5m into our site in Bradford and we now have excellent operational facilities that allow us to continue to produce great crisps. It’s only with their support that we have been able to outperform the crisp category with the Seabrook brand, won significant new private-label business and expanded overseas.”

The transaction was led by investment director Simon Braham and senior director Ged Gould at LDC in Manchester.

Mr Gould said: “In the three years we’ve backed Seabrook, the business has invested heavily in its manufacturing facilities and successfully entered new international markets. Seabrook is an iconic Northern brand and the team has capitalised on the increased demand for ‘made in the UK’ products, successfully taking their crisps to new fans worldwide.

“Jonathan and his team are hugely ambitious and becoming part of the Calbee UK family creates a number of new growth opportunities for Seabrook moving forward. We wish the team every success on the next phase of their journey.”

Calbee UK is the subsidiary of Japan-based $2.3bn, global snack company, Calbee Inc. Its 80 UK employees operate from its factory in North Wales and a commercial office in Leeds. 

Richard Robinson, managing director of Calbee UK, said: “We are hugely excited by the obvious fit that Seabrook represents for us in bringing the mainstream snack of potato-based crisps into our product portfolio.

“Bringing together Calbee UK, which boldly strives to disrupt the UK snacking category through exciting innovation, with the strength of the iconic, dynamic, challenger Seabrook brand, is a powerful move to leverage our combined strengths, accelerate our growth and increase our market penetration.”

Mr Robinson added: “Seabrook is a company with a great history, tradition and numerous first to market initiatives and serves as a perfect complement to the ambitious, young business that is Calbee UK. We are firm believers in the power of iconic, local hero brands, and we aim to leverage these strengths for further expansion. This strong alliance will provide mutual benefit and long-term success for both companies and their colleagues.”

For the financial year ending March 2018 Seabrook recorded revenues of £29.8m and profit (EBITDA) of £5m, up 9 per cent and 28 per cent per cent respectively during LDC’s tenure.

Calbee UK were advised by Spayne Lindsay & Co on corporate matters, KPMG on financial matters and Walker Morris LLP on legal matters.

LDC and Seabrook management were advised by Houlihan Lokey on corporate matters and Addleshaw Goddard LLP on legal matters.