Sealing the deal for Foilco

Lodders’ Corporate team helps family business Foilco secure the ‘perfect fit’ sale

Hot stamping foil distributor, Foilco has been sold to Japanese family business Washin, with legal support from Lodders’ Graham Spalding and Nicola Vernon. The UK distributor will remain under its existing leadership, as the two family businesses combine manufacturing strength with global reach.

Foilco is a second-generation family business based in Warrington and supplies the world’s widest range of stamping foil shades and finishes to the packaging and print industry. Established in 1987 by David Hornby, Foilco has since built a customer base across 70 countries, including premium brands such as Burberry, Gucci and Fortnum & Mason to name just a handful.

The business is now run by David’s sons, Paul Hornby (Chief Executive Officer) and Matt Hornby (Chief Creative Officer). Both Paul and Matt will remain within the newly acquired business, and will be joined on the Board by Washin’s Executive Officer, Shin Nakamichi,

CEO Paul Hornby explained how the business sale came about:

“We had no intentions of selling Foilco, despite almost weekly approaches from potential buyers, but a LinkedIn message in April 2025 from Nihon, corporate finance advisers to Washin, piqued our interest. We knew of Washin as a leading manufacturer of foils, and this seemed a great opportunity to talk to them about becoming as an exclusive supplier. Having got to know more about our business and how we work, Washin said it would prefer to acquire us outright.

“Matt and I set clear conditions for a potential sale: the UK operation would remain in place, roles and jobs would be protected, and the existing leadership team would stay on. Those commitments were central to the agreement, reflecting our history as a family-founded business.

“Lodders supported us throughout. This was our first and, most probably, last deal, and we had no real idea what was involved with the sale process. Graham was brilliant; I could contact him, any time of day or night, and he never made us feel like our questions were daft ones!”

Graham Spalding, head of Lodders’ Business Services Group said:

“It was an absolute pleasure working with Paul and Matt on the sale of Foilco to Washin. It was a tight timescale – made tighter by the changes to the tax rules at the end of the fiscal year – but credit to Foilco’s senior team. They were immaculate with their documentation and, through hard work and good communications on both sides, we were able to secure a successful completion on 1 April.

“Under the ownership of Washin, and with Paul and Matt still at the helm, Foilco has a fantastic opportunity to achieve significant market share in the premium packaging and print sector. We look forward to watching its ongoing success.”

Strategically, the combination brings together complementary strengths: Washin as a manufacturer and Foilco as a global distributor, creating opportunities to expand into new markets. The sale will also broaden Foilco’s premium offering, supported by Washin’s manufacturing and R&D capabilities.

Matt Hornby, Chief Creative Officer at Foilco added:

 “The Washin product range is an incredible resource, and their philosophy aligns closely with our own – delivering bespoke colours and technically advanced grades that meet every application in our industry with optimum results. The synergy goes way beyond the commercials though; it is also a great fit in terms of our shared values and commitment to both our employees and our customers.”

Foilco received an overwhelmingly positive response from staff, customers, suppliers and industry peers following the announcement, with reassurance that “nothing’s going to change” operationally, except a renewed ambition to grow. With the Hornby family remaining committed to the business, Foilco and Washin will now focus on scaling distribution capability, accelerating product development and delivering a more integrated decorative foil solution for customers across the world.

The deal was put together by Yuseke Hasegawa of leading Japanese M&A boutique, Nihon.              

Read more about Foilco here.