Avon Graphics stung in Redback Finishing takeover

Plans to merge the Melbourne-based finishing company fall short as Trevor Hone puts an end to the arrangement.
The deal saw Avon Graphics take on the failing finishing and coating company in February this year. Although reported at the time as a takeover it proved to be more of a management arrangement with Avon Graphics using its expertise to try to turnaround the company.Despite vigorous sales activity in the Melbourne area the company continued to falter. Last week Trevor Hone announced that he had withdrawn from the arrangement. He was reluctant to comment on the deal other than to say, “We weren’t able to turn the [Redback] business around like we wanted to.”The future of Redback is now uncertain, although there appears to be little activity at the Mount Waverly premises.