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Robinson acquires 'complimentary' Schela Plast in £7.7m deal
StockMarketWire.com
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Packaging manufacturer Robinson has announced the acquisition of Schela Plast, a Danish designer and manufacturer of blow moulded containers.
Total consideration, including earnout, is expected to be £7.7m on a debt-free cash-free basis.
In a statement, Robinson said that the acquisition will support complementary market sectors to those served by the company and expand the geographic reach of the firm. It will also create sales growth opportunities with new and existing Robinson customers and is expected to be immediately earnings enhancing.
Alan Raleigh, chairman of Robinson, commented: 'The Acquisition supports our sustainable growth strategy. Schela Plast is a strong complementary fit to our existing products and services, customers and manufacturing locations. Their location and capabilities, together with our planned investment in additional equipment, generates areas for growth with key customers in the market sectors we and Schela Plast serve. We are delighted to welcome Morten Jeppesen and his team to the Robinson Group.'
At 8:47am: (LON:RBN) Robinson PLC share price was 0p at 160.5p
Story provided by StockMarketWire.com
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