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| | It's a wrap for Cobbetts with Baco deal
Dec 18 2009 |
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Cobbetts' Manchester-based corporate practice has advised one of Europe’s leading cling film and aluminium converter, Wrap Film Systems Limited (WFS), on its acquisition of Baco Consumer Products (Baco), from US-based Reynolds Products Inc in an off-market deal. The deal value is undisclosed. Baco’s range includes manufactured food wrapping products, as well as related items such as food bags, bin bags and plastic containers. The company, which was founded in 1960, supplies its market-leading products to various UK supermarkets. Telford-based WFS, which was backed by private equity house Growth Capital Partners in 2007, has a number of existing blue chip customers including Bunzl, 3663 and Brakes. Tesco, Sainsbury’s, Asda, Morrisons and Waitrose currently stock the company’s most well known product, the Benedetti Dispenser. Corporate partner, Robert Turnbull and Associate, Paul Kelly led the deal team for Cobbetts. Paul said: “This synergistic acquisition represents a considerable opportunity for WFS to further build the well-known Baco brand through its existing product range. The rate at which WFS has grown is a credit to the vision and strategy of its strong management team and investors.”
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