Euro Packaging Group subsidiary Coppice Alupack has bought UK-based aluminium foil manufacturer and supplier Nicholl Food Packaging for an undisclosed amount.
The sale out of administration was facilitated by Grant Thornton UK, which was appointed as the administrator to the company on 24 July.
The transaction has saved the jobs of all 92 employees working at the company, reported TheBusinessDesk.com.
Grant Thornton UK advisory partner Eddie Williams was quoted by the website as saying: “I am absolutely delighted that we have been able to conclude a sale of all the operations to Euro Packaging Group.
“Nicholl had been experiencing significant cash and creditor pressure over several weeks prior to our appointment and our rapid assessment of its funding position and viability underlined the serious challenges the business faced.
“The Grant Thornton and Euro Packaging team have worked tirelessly since our appointment to achieve this sale on an accelerated basis under these difficult circumstances.”
Headquartered in Cannock, England, Nicholl Food Packaging was founded in 1989 and offers foil containers for the packaging industry across Europe.
Nicholl Group of Companies was renamed as Advanta in 2014.
Euro Packaging director Shabir Majid was quoted by the website as saying: “We are delighted with this acquisition, the group will gain the benefit of Nicholl’s increased capacity , tooling range and customer portfolio within their sector and in particular allow us to expand further into UK and overseas.
“This acquisition now firmly places Coppice Alupack as the leading supplier of Aluminium foil products into the UK market.”