15th Apr 2015 11:10
LONDON (Alliance News) - Smurfit Kappa Group PLC Wednesday said it has agreed to acquire UK print and display business Inspirepac for GBP43.5 million from the Logson Group.
According to the Irish paper packaging manufacturer, Inspirepac has 279 employees and operates two packaging plants and a further two erecting plants in the North of England.
The deal, which is expected to close in the second quarter, will boost earnings immediately, according to Smurfit Kappa.
"We are delighted with the announcement of this acquisition and look forward to welcoming the Inspirepac team into Smurfit Kappa UK. They have built excellent businesses in many product and customer sectors which will add to our existing strengths, and support our continued drive to ?Open the Future? within the UK packaging market," Tony Smurfit, chief operations officer, said in a statement.
Smurfit shares were down 2.2% at 29.01 pence on Wednesday afternoon.
By Samuel Agini; [email protected]; @samuelagini
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