News

The trading assets of compostable and recyclable pack specialist Procurasell International, which went into administration before Christmas, have been acquired by its shareholders.

The shareholders, who are made up of the company's management team and Zeus Capital, bought the assets on 24 December – a day after it went into administration.

Administrator Mark Colman from Leonard Curtis was unavailable to comment further.

The shareholders have changed the firm's name to Vertupak, but the company retains the same management team and the same strategy to specialise in manufacturing sugar cane based food trays.

Johan Bergman, chief executive, told Packaging News: "We are now entering an expansion phase. We aim to grow the company and its turnover."

The company recently secured a contract to provide its packs to a supplier of Gate Gourmet, which supplies British Airways.

Bergmann added that the company hopes to attain MAP functionality for its sugar cane packs, to provide a compostable lid film and to be able to line the product with a compostable barrier film.