Learoyd, based in Burnley, Lancashire, was established in 1976, and initially supplied paper and plastic bags to the textiles industry, before focusing on the fast-moving food packaging market.
Good fit
It achieved sales in excess of £20m ($33m) in 2013.
Mark Lapping, president, Coveris UK Food & Consumer, told FoodProductionDaily, the terms of the transaction will not be disclosed but said the partnership is a good fit for the company.
“The timing was right. It’s an excellent opportunity and Learoyd offers us additional capability and capacity to strengthen our flexible packaging business,” he said.
“The strategic acquisition will strengthen Coveris’ UK offering through advanced processes and technologies in addition to providing access to new customer and product markets including dairy, bakery, ambient grocery, crisps, fresh and chilled segments.”
Budweiser
Lapping added Learoyd has developed a strong reputation for print quality with products including Accuprint, its fixed colour palette and skilled workforce.
Clients include Budweiser, Tesco, Marks&Spencer, and Il Fornaio Italian bakery.
Allan Ferguson, managing director, Learoyd Packaging, said over the years it has invested in the long-term growth of the company to develop an art facility with extensive design capabilities and training and development for its employees.
“The backing of Coveris will enable us to deliver accelerated growth in a market which offers considerable expansion and cross-selling opportunities both in the UK and internationally,” he added.
This is the second acquisition for Coveris this year. FPD reported the company acquired St Neots, which manufactures cartonboard for the food-to-go and convenience markets in June.