Packaging firm buys manufacturing unit for £9m
Flintshire-based Mondi Consumer Goods Packaging UK has bought a manufacturing unit at Deeside Industrial Park for £9m.
The company supplies flexible packaging to internationally recognized brands across Europe and the United States with a particular focus on the microwavable food sector.
Mondi received legal advice on the deal by a team from the Yorkshire-based law firm Gordons led by commercial property solicitor James Kimberley.
Mondi managing director Keith Chapman said: “We have operated out of the industrial unit for some time on a leasing basis, but this purchase enables us to strengthen our position in the local area and provides a platform for further growth and the adaptation of the facility.
“By acquiring the property, we are cementing our commitment to Deeside, as well as creating opportunities to strengthen our customer relationships and developing exciting new products as we continue to look to the future.
“James and his team at Gordons helped us to complete this important acquisition in a short timescale and provided us with practical, commercially astute advice throughout the process.”
Mondi Group purchased the business, which was founded in 2004 as Excelsior Technologies, in February in a £32.9m deal as it looked to expand its consumer packaging offering.
Kimberley said: “This is a significant acquisition for Mondi and illustrates the company’s ambitions to continue its recent success and cement its position in Deeside, as well as its aim of growing its operations and scope of activity.
“The acquisition means the business is now ideally placed to enter its next phase and we look forward to continuing to work with the senior management team to help make this happen.”
Gordons has offices in Leeds and Bradford and employs 196 people. Clients include retailers B&M, Iceland and Morrisons; construction and high-performance materials manufacturer Saint Gobain; international brewers Molson Coors; and the world’s largest electrical heating business Glen Dimplex.