Denmaur Independent Papers is to acquire the business and assets of the Fine Paper and Conversion division (incorporating Vision Paper and Board) from Middleton Paper Company, with completion scheduled for mid-July 2022. Middleton’s staff will continue to operate from their location in Walsall and the Middleton brands will be retained under the new ownership.
Speaking of Denmaur’s first acquisition since he took a majority shareholding in the company in 2019, Denmaur chairman Harry E Gould Jr commented, ‘We are acquiring an ongoing and profitable operation in Middleton, and although a slightly different business model, the combined strengths and differences of the two companies will generate added value and a unique opportunity for the UK paper and board market going forward.’
Denmaur was established in 1983 and has become a major UK paper merchants, specialising in supplying the publishing, commercial print and carton board sectors. The company recently announced the achievement of 100,000 tonnes of Carbon Balanced Paper sales. Middleton made its name through conversion services in the graphic paper and board market, with the introduction of a merchanting arm, Vision, in more recent years.
Denmaur managing director Nick Gee stated, ‘Denmaur and Middleton share the ethos of a family-owned business as well as a tremendous respect for employee commitment, which has been instrumental to the success of both companies. The acquisition adds another facet to our business, allowing us to provide making sizes of paper and board to our customer base with short lead-times.’
Jason Middleton, managing director of Middleton Paper, agreed, ‘Having led the team of dedicated people who have grown our Fine Paper and Conversion Division for over 35 years, I am excited to see the progress we will make during the next phase of this operation’s development. We will all continue to enjoy secure, independent ownership that fully supports the proactive and progressive management team that I will be joining.
‘Both customers and suppliers alike will benefit from the synergies created by bringing our companies together, as well as broadening the range of opportunities available to us in a challenging market throughout the years ahead.’
The combined storage capacity following the acquisition will cover 235,000 square feet. The combined turnover of both companies is in excess of £140 million and the employee head count will be 128 once the purchase has been finalised.
The TUPE (Transfer of Undertakings (Protection of Employment)) process at Walsall began on 22 June with a targeted completion date due on or around 14 July 2022.
