UK-based rigid plastic packaging supplier RPC Group has acquired injection moulded rigid plastic packaging specialist Helioplast in a deal worth £8.4m.
The transaction will allow the RPC Group to reach into the Balkan region and complement its growth in south-east Europe.
RPC Group CEO Pim Vervaat said that Helioplast is a strong complementary fit with its Superfos cluster of companies.
"With the support of Superfos, the Helioplast team has an exciting opportunity to further grow its business across a number of key export markets," Vervaat added.
Following the acquisition, Helioplast managing director and one of the selling shareholders Suad Helic will continue to lead the business with support from RPC Superfos.
Helioplast also offers a range of designs from its newly built manufacturing plants in Gracanica. It employs 80 people and reported annual sales of approximately £7m for the financial year ending 31 December 2012.
The acquisition will be funded from RPC's existing debt facilities. It is expected to enhance the company's earnings over the next financial year, offering a quality manufacturing base to support its further sales growth into the south-eastern European region.
The deal will also offer RPC a manufacturing platform to introduce the Superfos industrial product range into the region while extending Helioplast's food product range.