Brierley wraps up cross-border European packaging deal
Martyn Brierley, head of Flint Bishop’s corporate team, has acted as lead advisor to the selling shareholder of Peak Packaging Poland Sp. z o.o. on its sale to Liner Factory GMBH, a subsidiary of the German corporate group, Ringmetall SE.
Peak Packaging Poland is a specialist supplier of large 1,000 litre container liners for the food, beverage, cosmetics, pharmaceutical and chemical industry sectors. The company serves a global customer base across Asia, Europe, the Middle East, and the USA.
Headquartered in Bartoszyce, Poland, Peak Packaging Poland recorded revenues exceeding EUR 8m in its most recent financial year and employs around 90 staff.
The sale follows on from Flint Bishop’s prior work earlier in the year in demerging Peak Packaging Poland from the wider Peak Packaging business operating out of Ilkeston.
Tax advice on the demerger and related onward sale was provided to the selling shareholder by Nick Baker and Josh Rogers of PWC’s Tax team in Birmingham, with Jon Stevens, head of global tax and managing partner for DWF Birmingham providing support on legal tax, with support on due diligence and disclosure coming from Rafael Wozniak, partner at DWF in Poland and Polish tax advice from Konrad Suchojad also of DWF Poland. Ringmetall were advised by RSM Poland and Wilkin Chapman.
Brierley said: “Having supported Peak Packaging for over 20 years, it was an absolute pleasure to advise the selling shareholder on this transaction, with invaluable and collaborative support provided by the Teams at DWF (Birmingham and Poland) and PWC (Birmingham and Poland).
“We’re looking forward to seeing Peak Packaging Poland flourish under the ownership of the German group, Ringmetall, and also to see Peak Packaging in the UK continue to grow its market share of the smaller bag-in-box product”
Robert Wheatley, chairman of Peak Packaging UK said: “I established Peak Poland in 2008 and over the last few years under its local management it has developed into a highly successful business.
“My NED, Gerald Gregory, and I concluded that now was the right time to sell the Polish business to allow it to further develop under new ownership. The sale would also allow us to focus on other parts of the Peak Group. We were well supported in the sale by a team of highly effective advisors.”
