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Acquisition of Moorgreen Flexible Packaging

Acquisition of Moorgreen Flexible PackagingCromwell Polythene's site near Leeds (Photo: Cromwell Polythene)UK recycling company Cromwell Polythene (Leeds; www.cromwellpolythene.co.uk) has acquired Moorgreen Flexible Packaging (Alfreton / UK) from Duo Plastics (Manchester / UK; www.duo-uk.co.uk) for an undisclosed sum. The transaction was done by Cromwellâ??s owner Vickers-Lee Holdings. Moorgreen manufactures and recycles polyethylene film bags and sacks from both recycled and virgin material.
Cromwell said the acquisition is consistent with its strategy to lead in supplying high-quality products with low environmental impact and follows a move in 2019 into its purpose-built headquarters and distribution facility in Sherburn-in-Elmet. James Lee, Cromwellâ??s managing director, said the two companies have enjoyed a good business relationship for more than 20 years. â??We are looking forward to more investment in the Alfreton site, to strengthen our UK recycling and manufacturing, furthering our ambitions to help grow the circular economy.â?
Duo UKâ??s commercial director Anthony Brimelow added, â??We have seen a significant increase in client demand for products using recycled polythene to create more sustainable packaging solutions. To handle this increase in demand, the business made the decision to sell its partner company Moorgreen Flexible Packaging in Derbyshire to Cromwell Polythene, and will invest the funds from the sale into the expansion of our site in Manchester to accommodate the new machinery.â?
Moorgreen will now trade as Cromwell Plastics Recycling, retaining all staff and creating some new jobs from the installation of additional conversion lines for bag-making.22.01.2020 Plasteurope.com [244320-0]

Publication date: 22/01/2020

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Last update: 2020-07-14