VPK increases stake in Corrboard UK

Corrboard faciliy, Image courtesy of Corrboard UK
Corrboard faciliy, Image courtesy of Corrboard UK
22 May 2020 − 

VPK Group NV has increased its shareholding in British sheetfeeding company Corrboard UK to become a 50 per cent shareholder.

VPK Group subscribed to new shares and bought the stake of former shareholder Garthwest. McLaren Packaging, one of Corrboard’s founding partners, has also subscribed for new shares. Financial details of the transaction were not disclosed.

Pierre Macharis, CEO of VPK Group, said: “Corrboard’s modern factory is impressive and with this new investment, strong management, know-how and skills, Corrboard will continue to operate as an independent unit with a dedicated strategy. This will help deliver high service levels and a competitive product offering to the market.”

Corrboard will shortly be installing a new £1.5m automated palletisation system at its 30,000 m² North Lincolnshire plant as well as IT control system upgrades. The new shareholder structure aims to bring added financial security to the company as well as an ambitious investment strategy going forward.

Also adjacent to the Corrboard’s site is Corrboard Bionergy Ltd, a joint venture between two of the consortium members, Swanline and McLaren, which provides energy to Corrboard, thereby facilitating the manufacture of carbon neutral corrugated material.

The Corrboard consortium consists of: VPK Group, Dairi-Pak, Fencor Packaging Group, GWP Group, McLaren Packaging and Swanline Print.

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