FLEXIBLE packaging and lidding films specialist KM Packaging has transitioned to an Employee Ownership Trust (EOT) in a move tipped to bring benefits for staff, customers and partners.
The business, which was founded in 1984, revealed the decision will ensure the company ‘remains true to its core values’ while continuing to grow and innovate.
Current directors Charles Smithson and Graham Holding will be remaining with the business. The company continues to be managed by the existing management team, with the Trust acting as a ‘guiding hand’ to ensure long-term stability and success.
MD Charles Smithson 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 provides packaging solutions for the produce, ambient, chilled and frozen convenience food markets, as well as for confectionery and snacks.
The firm has been supported and advised on the EOT transaction by Grant Thornton UK LLP, HSBC UK Bank plc, and Harrison Clark Rickerbys Limited.
