Business
Inspirepac owners sell majority stakeholdingJill Park, 24 November 2009Be the first to comment on this article Owners of sheet plant group Boxes and Packaging and sheet feeder group Board 24 Ian Loggie and Mike Stephenson have acquired a majority shareholding in Inspirepac. The pair have acquired 25% of Inspirepac shares from venture capitalist Mosaic PE and 38% from group chairman Alan Goodall. Inspirepac said the firm had been working on this succession plan for three years. The remaining 37% of shares remain with group chief executive Chris Marples and finance director Chris Monroe, both of whom will stay in their current roles. Goodall, who led the management buyout of Mondi’s Speciality Division which created Inspirepac three years ago, has announced he will retire at the end of 2010. Inspirepac chief executive Chris Marples told Packaging News that the changes will “have absolutely no impact on the running of the business” that would continue to operate as a separate entity. “I’m enthused and excited about the prospect of working closely with the new board. Inspirepac is the UK’s largest buyer of sheet board adn there are opportunities for the three groups to cross-trade to mutual benefit,” he said. Inspirepac, which has two sites in Wetherby and two in Chesterfield, specialises in shelf-ready packaging for the drinks sector for customers including Bacardi. Click here for today’s headlines from across the packaging industry Speak Your Mind |
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