Sheffield-based Storopack UK – a manufacturer and distributor of protective packaging products – has purchased the manufacturing facilities of a key market player in Northamptonshire with £1.45 million in new funding from Santander Corporate & Commercial.
Storopack UK is benefitting from the sharp rise in home deliveries off the back of the UK’s e-commerce boom, and has expanded to cater for strong demand for its hi-tech packaging solutions and to meet future growth ambitions.
The business has two divisions: the manufacturing of loose fill material and the distribution of air, paper and foam packaging systems.
The firm is part of Germany’s Storopack Hans Reichenecker GmbH, which employs over 2,500 worldwide and has an annual turnover of over €300 million.
Storopack UK has acquired FP International UK’s Loose Fill Division, a production facility based in Brackley, Northamptonshire.
This has become Storopack UK’s second production site in the UK, increasing manufacturing capabilities, optimising delivery capabilities and helping cement Storopack UK’s position as a leading market player.
The production team of FP International have been retained, alongside key administrative and financial personnel.
The wider strategy of the Storopack Group is to increase earnings organically and through acquisition, and Storopack UK is looking to hire additional sales personnel to help meet future business growth.
Richard Pulfrey, managing director, Storopack UK, said:
“We have been able to seize this opportunity to add real value to the business.
“The acquisition will help both with our manufacturing capabilities and with distribution, with the site in Brackley becoming a transport hub for much of our business in the South.”
Craig Williams, relationship director, Santander Corporate & Commercial, said:
“With this acquisition, Storopack UK will offer one of the most comprehensive ranges of protective packaging solutions in the UK market.
“It is another milestone in Storopack UK’s strategy to strengthen their long term competitiveness and provide a basis for growth and market position. We are delighted to be working with them.”