Partner Article

Sun European Partners making packaging acquisition

Private investment firm Sun European Partners LLP acquired a majority stake in Paragon Print and Packaging (Holdings) LTD.

Paragon is a provider of packaging and outsourced services to the private label fresh and chilled food market and has an estimated turnover of more than £170m.

The firm makes printed labels, sleeves, cartons, lined board, film and artwork and operates across ten sites, employing 1,200 staff.

Philippe Neuschaefer, Vice President at Sun European Partners, said: “Paragon is an excellent business with an impressive management team holding market leading positions in a number of key industry segments, notably food labelling.

“Through our extensive packaging and retail expertise and know-how, we are looking forward to helping Paragon expand its leading position in the labelling market and establish itself even further in the areas of film and lined board to create a diversified industry champion.”

Paragon services around 1,800 customers, including big name retailers such as Tesco, Sainsbury’s, Asda, Morrisons and Waitrose.

Mark Lapping, CEO of Paragon, said: “We at Paragon are looking forward to working with the team at Sun European Partners to further build on our market leading position. We have exciting plans to develop the business in our existing and new product sectors as well as through further acquisitions.

“With Sun European Partner’s strength in packaging, our exceptional employees and our customer focus, we have the winning formula required to ensure Paragon continues to grow and succeed.”

This was posted in Bdaily's Members' News section by Tom Keighley .