Paper group looks to fold in acquisition of £18m-turnover specialist
Birmingham-based Premier Paper Group has acquired an £18m-turnover packaging company, WBC.
The deal follows Premier’s purchase of lamination film supplier Zulu Packaging in July, which has now been rebranded as Premier Lamination Films.
Premier’s strategy of expanding into complementary markets attracted it to WBC, which supplies packaging and display products to the speciality drinks and food sectors, employing 55 people in London and Crawley.
Michael Beever, chief executive of the Premier Paper Group said: “Although the businesses sell to very different market sectors, many of the same values are common to both organisations.
“Having WBC as part of our group will open up many opportunities for all parts of the company to develop product and service offerings through the sharing of knowledge and expertise.
“The acquisition of WBC is an important next step for Premier as we continue to complement our traditional paper merchant business with expansion into added value sectors.”
The purchase of WBC will take Premier’s annual sales over £200m. Premier is part of OVOL Japan Pulp & Paper, a global company that operates in 21 countries with a turnover of $5bn.
WBC’s managing director Tim Wilkinson believes being part of a global company will provide “confidence and reassurance in these unpredictable times”.
He added: “The change in ownership will enable WBC to grow and prosper under a larger and well-respected organisation. The additional resources, logistics support and expertise provided by Premier will allow us to expand and improve our service and product choice to customers.”
Premier was advised by Orbis Partners, led by Chris Gregory and Nick Reed. Gateley provided legal advice, led by Matt Hussey, with Financial Due Diligence led by Andrew Sproule at BDO Birmingham.