Thermopak, the Tyneside manufacturer which specialises in moulded trays and carriers for the food industry, has been acquired by Yorkshire-based PFF Packaging.
The undisclosed deal will bring Thermopak’s 65,000 sq ft manufacturing facility in Gateshead under PFF’s group control, bringing its total output up to 60m units per month.
PFF Packaging directors Andy and Michelle Bairstow joined Thermopak in August when the firm was bought out of administration by Bill Mapstone, the previous chairman of Pilgrim Foods Group.
At the time, administrators from KPMG confirmed Thermopak had suffered a continued downturn in trading and difficulties in meeting its debt obligations.
Thermopak employs 70 people at its Albany Road plant – which PFF directors have now earmarked for investment in new plant and equipment throughout 2015.
PFF’s group managing director Andy Bairstow commented: “The acquisition of Thermopak was a natural progression for us as there is a great deal of synergy within the two businesses.
“The extra capacity which the acquisition brings, combined with the capability to manufacture in a broad range of polymers, will allow us to significantly increase our market share within existing markets and expand into new areas.”
The PFF Group now employs around 170 staff and supplies a diverse range of products to blue chip businesses, including a number of UK supermarkets.
The £18m turnover firm operates from a 97,000 sq ft factory in the West Yorkshire town of Keighley. A sister business, Arvensis, specialises in recycling plastic bottles into plastic sheets and packaging.