Northants packaging giant in £391m US deal

Northants-based RPC Group, the plastic products design and engineering company has bought the Letica Group, based in North America, for £391m – rising to £511m if various financial targets are met.

Headquartered in Rochester, Michigan, Letica owns a network of 13 manufacturing facilities in 11 states in the United States, employinga round 1,750 people. For the year ended June 30, 2016 Letica turned over £359m.

Letica’s president and chief executive officer, Anton Letica, and vice president of operations and general counsel, Mara Letica, have agreed to remain with the business until at least the end of the firm’s next financial year.

Pim Vervaat, chief executive of RPC, said: “Letica represents an excellent opportunity in the context of the Group’s growth strategy to create a meaningful presence outside of Europe.

“The acquisition of Letica provides a unique opportunity to further extend RPC’s geographical reach into the attractive North American market through Letica’s strong and well-invested manufacturing footprint. We are excited to be able to develop an enhanced platform of scale to support continued organic and inorganic growth in the United States.

“I look forward to working with Anton and the management team to take Letica to the next stage of its strategic development.”