Britton to form part of £1.6bn group
CHESHIRE plastics manufacturer Britton Group, which was bought by Sun Capital Partners two years ago, has been rolled into a group with four other Sun companies.
The US-based private equity firm has merged Britton with Lincolnshire-based Paragon Print & Packaging, US-based Exopack and Paccor and Kobusch, both based in Germany.
It said the move would create the sixth largest plastics packaging company in the world with with annual revenues of £1.6bn, 63 plants and 8,650 employees.
It will operate under as Exopack Holdings which is registered in Luxembourg but the individual brand names will be retained.
Sun’s European arm bought Britton from HSBC’s Direct Principal Investments UK division and the management team. The value of the deal was not disclosed but the transaction was estimated to be worth around £90m.
The Winsford firm specialises in extrusion, printing and lamination and has customers across a number of sectors including consumer goods, banking, healthcare, construction and technology. Its products are used in breakfast cereal packets, printed shrink wrap film and banking coin bags.
Marc Leder co-chief executive at Sun said: “This combination represents a natural next step in a process that began eight years ago to create a global packaging company with a solid foundation for future growth. Building on past collaborations between the companies, the combination will immediately achieve synergies and allow the Combined company to more effectively pursue global business.”