UK-based rigid plastic packaging supplier RPC Group has acquired Maynard & Harris Group (M&H) to expand its business in a deal worth £103.5m.
With about 700 employees, M&H will become an independent operating arm within RPC's Bramlage business segment, enhancing personal care product offerings in the UK, mainland Europe and the US.
The deal will help RPC enhance its business operations within the rigid plastic personal care packaging sector in Europe and the US.
With the latest transaction, RPC's product portfolio will now include flexible tubes and a range of personal care packaging for short production runs and over-the-counter healthcare container designs.
During the first full year of ownership, the deal would provide pre-tax purchasing synergies of at least £1m to RPC, with additional commercial and working capital synergies to be achieved later.
RPC chief executive Pim Vervaat said: "M&H is a well-established and highly respected business which has a good strategic fit with RPC. It operates in our core geographic and product markets and complements the group's existing market positions very well."
Headquartered at Beccles, M&H supplies rigid plastic packaging to the personal care, healthcare and selected food markets. The company recorded revenues of £76.7m for the year ending 30 April, and also operates two manufacturing facilities in the US.
Image: M&H will improve RPC's Bramlage business segment, improving personal care product offerings in the UK, mainland Europe and the US. Photo: courtesy of nuchylee / FreeDigitalPhotos.net.