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Mpac Group PLC - Tadcaster, North Yorkshire-based high-speed packaging and automation solutions - Completes deal to buy CSi Palletising. CSi Palletising provides design, manufacturing and installation services for end-of-line automation and palletising solutions. It is based in the Netherlands, with a factory in Romania.
Around 1.0 million shares have been issued to the sellers at 400 pence each, worth £4.2 million, to be admitted on December 2. It will take Mpac’s issued share capital to 30.1 million ordinary shares. Mpac will pay €41.5 million in cash up front. The remainder will be in vendor loans and deferred payments.
In September, Mpac announced the $17 million acquisition of Boston Conveyor & Automation Inc, a US-based supplier of robotic automation and conveyor solutions to the food, life science and general industry sectors.
Current stock price: 500.00p, down 1.0% in London on Friday
12-month change: multiplied from 207.50p
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