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Acquisition rescues jobs at confectionery packaging firm
Edited by : AL CIRCLE
1 min read
Bridgnorth-based company Discovery Foils, which supplies foil packaging to dairy processors and confectionery brands such as Cadbury, has been bought out of administration by Slovakian business Moneta Packaging.
The deal saves 14 existing jobs at the business and offers the prospect of re-employment to 69 staff who were made redundant when it was handed over to administrator KPMG last month.
“This acquisition expands our reach into new market applications for the pharmaceutical and dairy sectors that require lacquered heavy gauge aluminium packaging,” said Alena Spinerova, chief financial officer of Moneta Group.
‘Improving packaging quality’
“A new subsidiary to the UK market will allow us to bring our packaging solutions to more customers, improving their packaging quality and cost efficiency.”
Will Wright, joint administrator and partner at KPMG, said: “We are delighted to have secured a sale of the business and assets, which sees a continuation of the business and is expected to result in the re-employment of a number of former staff.”
Moneta won a gold award for innovation and sustainability in the 2011 DuPont Awards for Packaging Innovation for its reduced thickness, premium-look, foil.
The deal saves 14 existing jobs at the business and offers the prospect of re-employment to 69 staff who were made redundant when it was handed over to administrator KPMG last month.
“This acquisition expands our reach into new market applications for the pharmaceutical and dairy sectors that require lacquered heavy gauge aluminium packaging,” said Alena Spinerova, chief financial officer of Moneta Group.
‘Improving packaging quality’
“A new subsidiary to the UK market will allow us to bring our packaging solutions to more customers, improving their packaging quality and cost efficiency.”
Will Wright, joint administrator and partner at KPMG, said: “We are delighted to have secured a sale of the business and assets, which sees a continuation of the business and is expected to result in the re-employment of a number of former staff.”
Moneta won a gold award for innovation and sustainability in the 2011 DuPont Awards for Packaging Innovation for its reduced thickness, premium-look, foil.
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