The new senior debt facility includes a blend of revolving and amortising term facilities, on an underwrite and single hold basis, and replaces the acquisition bridge provided by Sun.

James Cullen of Investec said: "We are delighted to support this transaction and the business’s growth plan going forward.  Management has done a great job in positioning Britton as a leader in its field.

"We have a high regard for the team at Sun and for the Britton Flexibles Management team and from day one, believed that the combination of Sun's wider presence in the packaging market with this new addition is thoroughly compelling."

Britton Flexibles was acquired last month by Sun, which has since placed the £153m turnover flexible packaging specialist at the heart of its new pan-European flexible packaging business, the Britton Group.

The Britton Group comprises Britton Flexibles' three UK sites, in Cheshire, Lincolnshire and Hartlepool, as well as existing Sun affiliates Reuther Verpackung, which has sites in Germany and Poland, and Veriplast Solutions, which has a France-based flexible packaging business.