The Samuel Grant Group, which is based in Leeds and includes Samuel Grant Packaging, has acquired Clingfoil.
Based in Stockport and with £7m of annual sales, Clingfoil are independent distributors of protective packaging materials and stretch film product solutions, providing goods to a wide range of customers across distribution, e-commerce, and manufacturing markets.
By bringing Clingfoil’s manufacturing capabilities into the Group, Samuel Grant will be able to combine their expertise with their own, and actively seek out new innovations and products that can deliver improvements and efficiencies for its customers.
The acquisition will allow the team to further develop and research 30% recycled machine and hand stretch film for pallet wrapping. In the light of the recent plastic tax being introduced, the ability to research and develop new films in house will add a huge amount of value to Samuel Grant’s stretch film and pallet wrapping proposition.
Clingfoil was established in 1982 by brothers, Mark and Paul Kenyon, who have now reached retirement.
There are an overwhelming number of similarities between the two businesses in terms of culture, family values and the support they give their employees, all 21 of whom will continue to work there when the merge happens. They will also retain their office, warehousing and manufacturing facility.
Whilst Paul Kenyon has already retired, Mark will stay within the business to facilitate a seamless transition for the company and conduct a detailed handover of operations.
Andrew Grant, Samuel Grant Group’s Joint Managing Director, said: “Given the challenges of international supply that we are finding, adding a UK manufacturing arm to our business will help hugely with continuing to provide our customers with the best possible service.
“It will also allow us to conduct in-depth research into more environmentally friendly alternatives to virgin polymer stretch wrap, and help us to introduce effective stretch-wrapping solutions with increased recycled content to help reduce the impact of the plastic tax.”
Park Place acted as lead advisor to Samuel Grant Group on the transaction. Ben Peacock, partner at Park Place, said: “We are delighted to have advised on bringing these two family businesses together. Samuel Grant will be an excellent home for Clingfoil and alongside their new 30,000 square foot distribution centre in Leeds will support the Grant family’s significant growth aspirations for the group.”
Andrew Bradley and Victoria Innes of Knights provided legal advice to Samuel Grant Group. Funding for the acquisition was provided by NatWest. Dave Wilson from Spinnaker Corporate Finance advised Clingfoil, with Mark Heppell, Sara Bluston and Abigail Gallagher from JMW Solicitors acting on their behalf.
