Management buy-in at Belfasts brunch box

7th Dec 2007

A leading supplier of packaged sandwiches to the retail and foodservice sectors has been the subject of a management buy-in worth more than 1.5 million. The Brunch Box, which currently employs 40 people/staff based at Dundonald Enterprise Park, was acquired by new managing director John Weatherup and private equity firm Beltrea Partners with support from Ulster Bank. Ciaran Rafferty, a director of Beltrea Partners becomes a non-executive director of The Brunch Box following the buy-in.

The Brunch Box currently counts retailers Asda, Spar, Supervalu, Centra, Mace and Costcutter amongst its client base.

Commenting on the deal, Ulster Bank corporate banking senior manager, Christopher Shephard, says: The Brunch Box is a successful business with a strong client base. The buy-in team considered the current financial position of the company to be healthy but also saw significant opportunities to add value and grow business with new and existing customers.

The pedigree of the new management team, spearheaded by John Weatherup, who has more than 20 years experience at the cutting-edge of the food sector, will position The Brunch Box strongly for future growth. Beltrea Partners and Ciaran Rafferty also have strong trackrecords with regard to adding value to businesses following management buy-ins, which will be a considerable asset to the company going forward, Mr Shephard adds.

Brunchbox Limited was established in 1994 and operates from a modern 7,900 sq ft self contained factory in Dundonald Enterprise Park in East Belfast.

Beltrae Partners (BP) Limited is an independent corporate finance advisory firm and private equity investor, with offices in Dublin and Belfast.

John Waetherup has extensive experience in the food industry in GB and Ireland, having previously worked in senior commercial roles at RHM, Irwins Bakery, Holmes Catering and Ballymoney Foods.