Distribution and outsourcing group Bunzl has acquired packaging provider Woodway UK for an undisclosed sum.
Woodway UK currently supports the e-commerce activities of customers operating in the UK's retail supplies sector.
The company had generated £31m in revenue over the year ending on 30 June 2016.
Woodway UK managing director Jason Inwood said: “We have seen significant growth in the last three years and we view this sale as essential to continue this rate of growth whilst still being able to enhance our customer proposition.
“We believe this sale adds value to all customers and suppliers.”
In 2014, the company purchased a dedicated warehouse for its online customers and opened a packaging innovation centre, where customers can try out the latest systems.
Last year, Woodway opened two more warehouses with an area of more than 150,000ft², taking its total to six.
Bunzl chief executive Frank van Zanten said: “In addition to supplying high quality packaging products, Woodway provides bespoke value-added services to its customers through a specialist technical services team who are able to work in collaboration with customers to offer a total solution for their packaging needs.
“This expertise will be invaluable as we look to expand and develop our retail supplies business in the UK.”
The company currently has business across 29 countries and four continents worldwide.
Image: Woodway UK's facility. Photo: courtesy of Woodway UK.