Flexfilm sold in £5.5m deal
CHESHIRE plastics manufacturer Flexfilm has been sold to British Polythene Industries (BPI) in a £5.5m deal.
BPI, based in Greenock, is said to be one of the leading manufacturers of polythene film and bags in Europe and has operations in Bromborough, Widnes and Flint.
Flexfilm, which specialises in films for food packaging, is controlled by Michael Compton. It has a 20,000 sq ft factory in Winsford and also operates a subsidiary in Portadown, Ireland called, Jordan Plastics which supplies printed film and bags.
In the year to the end of December the group made an operating profit of £800,000 on sales of £13.4m. BPI said the deal would strenghthen its position in the food sector and was in line with its strategy of focusing on more resilient markets.
The North West corporate finance team of accountancy firm Mazars advised the vendors on the sale. Corporate finance partner Peter Terry said: “We are very pleased to have led this transaction. The Flexfilm shareholders have developed a quality business and BPI are well place to continue this development to the next stage.”
