The packaging company has been sold to a private equity group.

The company claims at this stage there are no threat to jobs in Lincolnshire.

The company employs around 1,200 people at its sites in Louth, Mablethorpe and Grimsby.

It was sold for �860m million pounds to Montagu Private Equity, one of the UK's largest private equity groups.

The GMB union, which represents workers at Linpac in the county, says it hopes restructuring in the future will not lead to job losses.

Linpac was founded by the Cornish family in Louth in 1959 to supply packaging to local farmers.