Bye said the successful implementation of Seabrook’s three-year growth plan, which was launched in 2012, had paved the way for McQueen to pursue different avenues for development. The strategy had boosted sales and substantially improved profitability, he claimed.
Under a new team, the Seabrook brand had been transformed with the launch of new products, strong marketing campaigns and a clear promotional strategy. As a result, it had grown distribution nationally, was now bought by one in four UK households and was worth £30M.
Additional upgrade work in the factory had provided more flexibility in production and extra capacity, said Bye.
McQueen was appointed in May 2014 as Seabrook’s strategic and financial adviser with a view to investigate opportunities for external investment, but Seabrook has only recently confirmed the move.
“It’s a very exciting time for Seabrook, with a strategy that is continuing to deliver for the business,” said Bye. “Our relationship with McQueen will allow us to actively investigate areas for potential investment and fuel our ambitious growth plans to move at a faster pace to realise the brand’s potential.”
‘Open to opportunities’
“There’s no time frame on pinpointing where additional investment could come from and we are open to consider any opportunities McQueen identifies.
“We’re happy to say that Seabrook has entered its 70thyear in excellent health and we have a programme of investment in place to celebrate its anniversary that aims to get loyal fans purchasing on more occasions and more consumers buying the brand.”
In October last year the Bradford-based crisps brand, which was founded in 1945, revealed it had invested significant tranches of cash in new lines and machines, enabling it to boost capacity by 40%.