22nd Feb 2016 08:41
LONDON (Alliance News) - Injection-moulded plastic products manufacturer Coral Products PLC on Monday said it has acquired Global One-Pak Holdings Ltd for GBP3.6 million in cash and shares.
Coral will pay GBP2.95 million in cash and GBP650,000 through the issue of 3.3 million shares at 20.00 pence per share to cover the consideration. Coral shares were up 1.2% to 21.25p on Monday morning.
Global One-Pak makes lotion pumps and trigger sprays for a range of customers in the household, personal care and automotive markets. For the year to the end of December, the group posted sales of GBP2.9 million.
"The acquisition of GOP is a significant milestone for Coral as it expands further the group's market coverage and product range," said Coral Chairman Joe Grimmond.
By Sam Unsted; [email protected]; @SamUAtAlliance
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