Established in the 1920s by the Benson family, the company has been led by existing Managing Director Mark Kerridge since 2002. LDC has backed the management buy-out of the group and the investment is intended to facilitate the exit of the two principal Benson family shareholders from the business, as well as to support the management team’s growth strategy.
Benson Group supplies printed folding carton board packaging to the food retail sector and manufactures cartons, patient information leaflets and labels for pharmaceutical customers in the UK and Europe. It currently employs more than 900 staff across its head office in Bardon, as well as manufacturing sites in Newcastle, Gateshead and Crewe.
In conjunction with the investment, Andy Grove, together with Matthew Norrington. Andy Grove and Martin Draper of LDC will both join the board of the company. The transaction was supported by a package of senior debt and revolving credit facilities provided by Lloyds Bank Corporate Markets’ Acquisition Finance team and HSBC Leveraged Finance Midlands team.