British packaging distributor Kite Packaging has completed the acquisition of Golden Valley Pallet Wrap Specialists for an undisclosed amount.
The acquisition covers goodwill and certain assets of Golden Valley. However, the deal does not include the liabilities of Golden Valley.
The Golden Valley Pallet Wrap Specialists business and employees will be transferred to Kite's facility in Coventry, where Kite will operate a specialist stretchfilm unit, the company said.
While, operations at the Golden Valley's Stonehouse facility in Gloucestershire will be ceased.
With this acquisition, Kite Packaging will gain technical expertise in stretchfilm business, especially the new generation of nano films.
Kite will be able to conduct audits of stretchfilm use, and efficiencies for existing and prospective customers.
Based in Coventry, Kite Packaging manufactures and supplies packaging products in the UK.
The company offers a wide range of products including corrugated boards and cartons, FEFCO style products, board grades, point of sale and suspension packaging products, pallet and multi-depth boxes, retention packaging products, specialist papers, environmental boxes, and single wall boxes; and polythene products.
Earlier in July this year, Kite Packaging opened a new facility in Portsmouth, UK, increasing its storage capacity by 300%.
With this, the firm inaugurated its second property this year after opening a branch in Sittingbourne in England in February.
