Benson Group has acquired the order book and various trading assets of Cameron Linn in a last ditch deal that has saved the food packaging company from liquidation.
The arrangements for the purchase of Glasgow-based Cameron Linn were finalised with the liquidator today (17 December).
A deal for the £8.5m turnover company, which counts Marks & Spencer among its suppliers, will bolster Benson Group's turnover to in excess of £93m.
Benson Group managing director Mark Kerridge said the company had been a "victim of the current severe economic climate".
He said: "We will ensure that all existing orders currently in-hand at the factory are completed and delivered in a timely fashion."
In the short to medium term, Kerridge added that the focus must revolve around the "continuity and security of supply for customers".
The news comes off the back of several acquisitions made by the company in the last few years.
Gateshead-based chilled food specialist Integrated Packaging was purchased in 2007, and the Benson Group's first diversification into pharmaceutical packaging was with Cheshire-based Medica in 2005.
Print Design and Graphics, a food packaging company based in Newcastle, was also acquired in 2006.
Benson Box is headquartered in Bardon, Leicestershire, and produces carton packaging for the food and pharmaceutical products.
It now employs around 800 staff and clients include GlaxoSmithKline, Northern Foods, Reckitt Benckiser, Greencore, Bakkavor and several leading supermarket chains.
Thursday, December 18, 2008
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