Investment firm CorpAcq has completed the acquisition of UK-based Northern Packaging for an undisclosed amount, marking its expansion into the packaging sector.
The acquisition forms a part of CorpAcq's strategy of acquiring profitable businesses with a track record of success and a strong management team, and has pushed the number of businesses in its portfolio up to 11.
Northern Packaging currently operates from two sites in Skelmersdale, offering a range of eco-friendly corrugated packaging solutions for customers from different industries such as food and drink, retail and healthcare. It employs 80 people and generates approximately £12m in annual sales volume.
Commenting on the acquisition, CorpAcq chairman Simon Orange said: "Northern Packaging specialises in quality products and exceptional customer service, and is committed to developing those attributes through continual investment in plant and technology.
"We believe the skills of the management team, complemented by CorpAcq's strategic guidance and investment, will enable Northern Packaging to continue its excellent progress."
Northern Packaging former managing director Phil Bunting said: "CorpAcq seems the perfect fit for Northern Packaging, with its shared values and commitment to business growth.
"We're in no doubt that CorpAcq will allow us to drive Northern Packaging forward while maintaining our commitment to quality customer service and safeguarding the future of our valued workforce."