Acquisition boosts R&D capabilities of packaging group
The acquisition of a specialist packaging firm will help improve product research and development operations at the enlarged group.
The Leeds-based Samuel Grant Group, which includes Samuel Grant Packaging, has acquired Stockport firm Clingfoil, for an undisclosed sum.
Clingfoil was founded in 1982 by brothers Mark and Paul Kenyon and now boasts a turnover of £7m.
Organic growth over the intervening years has seen the company establish itself as one of the biggest independent distributors of protective packaging materials and stretch film products in the North West.
Clingfoil’s customers work in the distribution, e-commerce, and manufacturing sectors.
But now, the two brothers have reached retirement and have sold the company.
The acquisition was helped by the many similarities between the two businesses, such as culture, family values, and staff relations.
But bringing Clingfoil’s manufacturing expertise into the group means Samuel Grant can explore new innovations and products that will deliver improvements and efficiencies for customers.
And it allows the team to further develop and research 30% recycled machine and hand stretch film for pallet wrapping. Following the recent plastic tax being introduced, the ability to research and develop new films in-house will add a huge amount of value to Samuel Grant’s stretch film and pallet wrapping proposition.
Andrew Grant, Samuel Grant Group’s joint managing director, said: “Given the challenges of international supply that we are finding, adding a UK manufacturing arm to our business will help hugely with continuing to provide our customers with the best possible service.
“It will also allow us to conduct in-depth research into more environmentally friendly alternatives to virgin polymer stretch wrap, and help us to introduce effective stretch wrapping solutions with increased recycled content to help reduce the impact of the plastic tax.”
All 21 Clingfoil staff will transfer following the takeover and continue to work at the firm’s existing premises. Paul Kenyon has retired, but Mark will remain to ensure a seamless transition and conduct a detailed handover of operations.
Park Place acted as lead advisor to Samuel Grant Group on the transaction. Ben Peacock, partner at Park Place, said: “Samuel Grant will be an excellent home for Clingfoil and alongside their new 30,000 square foot distribution centre in Leeds will support the Grant family’s significant growth aspirations for the group.”
Andrew Bradley and Victoria Innes of Knights provided legal advice to Samuel Grant Group. Funding for the acquisition was provided by NatWest. Dave Wilson, from Spinnaker Corporate Finance, advised Clingfoil, with Mark Heppell, Sara Bluston and Abigail Gallagher from JMW Solicitors acting on their behalf.
