Global flexible packaging and lidding films supplier KM Packaging has announced that it has become an Employee Ownership Trust (EOT).
KM Packaging, founded in 1984, says the move will ensure it remains true to its core values while continuing to grow and innovate for the greater long-term benefit of its employees, customers, and partners.
Charles Smithson, Managing Director, said: “KM is a proudly independent company and has achieved significant growth in both domestic and export markets. The EOT is a natural transition as it builds on the company’s values of Trust, Ownership, Passion, and Innovation that have been established over the last 38 years.
“The company’s employees are passionate about the business and its values. They are the people who should reap the future rewards for their hard work and dedication.”
KM Packaging has a worldwide customer base and supplies packaging solutions for the produce, ambient, chilled and frozen convenience food markets, as well as for confectionery and snacks.
While the company continues to be managed on a daily basis by the existing management team, the Trust acts as a guiding hand to ensure the long-term stability and success of the business.
The current directors, Charles Smithson and Graham Holding, will be remaining with the business and are looking forward to delivering on the company’s investment and growth strategy.
KM has been supported and advised on the EOT transaction by Grant Thornton UK LLP, HSBC UK Bank plc, and Harrison Clark Rickerbys Limited.
Read more of the latest industry news and developments here: March 2022 Single Issue form – International Confectionery Magazine (in-confectionery.com)