Yorkshire-based PFF Packaging has acquired Thermopak which specialises in manufacturing moulded trays and carriers for the food industry for an undisclosed amount.
PFF group will now control Thermopak's 65,000 ft2 manufacturing facility in Gateshead which will bring up its total output to 60m units per month.
PFF's group managing director Andy Bairstow was quoted by The Journal as saying: "The acquisition of Thermopak was a natural progression for us as there is a great deal of synergy within the two businesses.
"The extra capacity which the acquisition brings, combined with the capability to manufacture in a broad range of polymers, will allow us to significantly increase our market share within existing markets and expand into new areas."
Currently, Thermopak employs 70 people at its Albany Road plant which will see numerous investments by PFF in the form of new plant and equipment in 2015.
PFF Packaging directors Andy and Michelle Bairstow joined Thermopak in August after the company was bought out of administration by Bill Mapstone, the previous chairman of Pilgrim Foods Group.
KPMG, at that time, had confirmed that Thermopak had suffered a continued downturn in trading and difficulties in meeting its debt obligations.
The PFF group supplies a range of products to blue chip businesses and employs approximately 170 people. The company operates from a 97,000 ft2 factory in the West Yorkshire town of Keighley and reported a turnover of £18m. It also has a sister business, Arvensis, that specialises in recycling plastic bottles into plastic sheets and packaging.
