Go-Pak UK has announced that it has been acquired by SCG Packaging (SCGP), the Thailand-based total packaging solution provider. Headquartered in Yate, UK, Go-Pak is the UK’s largest privately owned manufacturer and importer of disposable food service products to some of the world’s largest companies in the UK, Europe and North America.
SCGP has acquired 100% of the shares of the Go-Pak UK and its Vietnamese manufacturing subsidiaries. Go-Pak will maintain its current management, operations, customers, and brand identity. It will continue to operate as business as usual, but with an enhanced product offering and further market development. In the longer term, the shared vision of both Go-Pak and SCGP and passion for sustainability is expected to be a hallmark of the future direction of the business.
SCGP, established since 1975 and recently listed in the Stock Exchange of Thailand, has been rapidly expanding its business to serve customers across South East Asia. The consumer segment accounted for two-thirds of its revenue from sales in 2019, which registered $2.8 billion. The deal will help drive SCGP’s expansion into the UK, European and North American markets.
Since being founded in 2009, Go-Pak has grown rapidly at 45% compound annual growth rate (2010 to 2020) and achieved revenue of £68.7 million in the twelve months to September 2020. As of September 2020, the company had total assets of £40.7 million.
As the UK’s fastest growing privately-owned supplier of food service packaging and retail consumer products, Go-Pak’s offering complements SCGP’s products extremely well, making it the perfect choice to support the company’s continued growth. Go-Pak’s product ranges, including its market leading environmentally friendly products, will extend SCGP’s product offering and benefit both current and future customers across the enlarged group.
Simon Lawley, Go-Pak founder said: “Go-Pak has found the perfect home in joining together with SCG Packaging. Go-Pak has achieved so much as an independently-owned business over the past 11 years. It has been a great journey so far, and our growth strategy and potential will continue to flourish as part of the SCG family. Not only does this make Go-Pak stronger, but it will also allow the business to maximise its full potential as part of SCG Packaging.”
Adam Anderson, Go-Pak Managing Director said: “Joining the SCG family of businesses is a very exciting prospect for Go-Pak. Not only does this mean a continuation of the great service for our customers, but being part of such a large integrated packaging group will enable us to offer further international support and a wider product range for our current and future customers in the UK, Europe and US.”
Wichan Jitpukdee, CEO of SCGP said: “We are extremely pleased to collaborate with Go-Pak, our new partner with whom we look forward to working together to grow in the European market as well as expand the business in the United States, as we plan to build upon this impressive platform and strong B2B2C focus. We welcome their knowledge, flexibility and creativity to our business.”
Arrowpoint Advisory, part of Rothschild & Co, acted as lead financial advisor to the shareholders of Go-Pak. Pinsent Masons acted as legal advisors, with RSM and CIL providing financial and commercial due diligence services respectively for Go-Pak.
Alantra acted as financial advisor to SCGP, with PwC providing financial and tax due diligence and Baker McKenzie acting as legal advisors.