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Revenues retained by Ultimate Packaging in year ahead of US giant ProAmpac’s swoop

Ultimate Packaging maintained gross sales of greater than £50 million within the remaining 12 months earlier than it was purchased out by US-based ProAmpac.

The previous family-owned enterprise was purchased by the worldwide big within the subject of versatile packaging final July, because it closed in on 40 years of operations.

Outcomes for the 12 months to February 28, 2021 confirmed a 0.3 per cent decline in turnover from £50.8 million to £50.6 million, with working revenue doping from £12 million to £11.9 million.

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Launched as a solo merchanting operation in Brigg, it grew to become an employer of greater than 250 folks, with current years seeing substantial growth following its relocation to Grimsby’s Europarc.

Following July’s deal, which got here after the most recent monetary reporting interval, it was renamed ProAmpac Grimsby, and sustainability stays a core focus because it ploughs on by way of “challenging trading conditions”.

Lockdowns and the working from house decree result in extra house cooking and fewer demand for food-on-the-go – translating to extra gross sales of decrease priced merchandise for the enterprise.

It held up its persevering with deal with extra sustainable packaging supplies and codecs, significantly within the retailer house, as bringing extra alternative for its Ultigreen branded vary as the brand new administrators regarded forward.

“The board is confident that the company’s strategy will continue to deliver results that meet both shareholders’ and other stakeholders’ expectations in the year to come,” director Eric Bradford mentioned within the strategic report accompanying the outcomes.

“Plastic packaging has been under increasing scrutiny due to the ongoing negative perception of plastic and the sometimes inappropriate disposal thereof. The company shares the widespread concern that too much plastic is disposed of in an inappropriate manner.

“The products the company produces have many benefits because they are lightweight, strong, hygienic and when formatted and designed correctly are an easily recyclable way to package goods, particularly food. A major benefit is the ability to increase the shelf life of many foods and so reduce food waste. Changing to other forms of packaging can leave our customers with poor pack integrity, reduced shelf life and increased pack weights. Many alternative packaging materials also have a higher carbon footprint and are therefore not so good for the environment.

“The company is also committed to providing customers with products that reduce the impact on the environment by utilising raw materials that contain post-industrial or post-consumer waste where possible.”

Recyclable and compostable options had been flagged when the deal accomplished.

Cincinnati-based ProAmpac is owned by Pritzker Personal Capital together with administration and different co-investors.

It has nearly 50 manufacturing websites globally, with greater than 5,800 staff supplying greater than 5,000 clients in 90 international locations. It serves client, healthcare, e-commerce, retail and industrial items markets.

In Grimsby it now operates throughout a 180,000 sq ft property with bolt-on acquisitions and new builds including to the preliminary base, moved to in 2000.

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