The deal, announced yesterday, will see A&R Carton almost double its share in Rotherham-based SP Containers to 67 per cent.
Both parties hailed the takeover, with A&R Carton declaring the transaction would allow it to broaden its portfolio as SP Containers produces a range of paperboard-based containers and cups for the ice-cream, dairy and confectionery sectors. It also manufactures secondary packaging for a diverse assortment of products.
“We are very pleased to increase our share of SP Containers,” said Per Lundeen, A&R CEO. “SP Container's products complement A&R Carton’s product portfolio very well and together we have a strong know how and vast experience.”
The UK company forecast the move by A&R to increase its stake by 34 per cent would spur its own expansion.
“With the assistance of A&R Carton’s resources, SP Containers will be able to develop at a much faster rate than previously," said Paul Nixon, managing director of SP Containers. “We look forward to further cooperation with A&R Carton.”
The Swedish company previously purchased a 33 per cent stake in SP Containers in 2008.
SP Containers said it supplies leading European ice cream producers as well as major UK retailers and food producers. The company claims a strong export presence mainland European, Scandinavian and the Baltic markets.
A&R Carton is a multinational paperboard packaging outfit - with 1,700 employees and 14 production sites in European countries. The firm offers a range of products including general cartons, cups, trays and multipacks.