Selecta, the European vending and coffee services provider, has sold Custompack Ltd formerly known as Chequer Foods Ltd, to PortionPack Europe Group, the European specialist in the field of portion packed products, via its UK based company Single Source Ltd.
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.”
The financial terms of the transaction have not been disclosed.