Manufacturer completes £1.5m acquisition
Coral Products a specialist in the design and manufacture of plastic products has acquired Alma Products for £1.5m.
The deal was described by the chairman of the Wythenshawe-based business, Joe Grimmond as reinforcing its “focus on niche, specialist operators in the plastic sector”.
Alma Products was established in 1988 in Runcorn and specialises in the manufacturing of all forms of packaging, having originally served the yoghurt and dessert market.
Grimmond added: “Alma operating from its freehold Runcorn premise is very well invested in state-of-the-art sheet extrusion, volume vacuum forming and one of the most advanced computer-controlled printing facilities in the industry.
“This acquisition broadens our groups product and manufacturing offering and greatly expands our available market opportunities.”
He also noted that the acquisition which will see all of Alma’s employees become part of Coral, is expected to be “earnings enhancing in its first year.”