InsightsNews - Commercial Law - POSTED: January 15 2014
Brachers advises on sale of kent-based luxury packaging business to italian manufacturing group
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Brachers today made public its advisory role in the sale of Dover-based luxury packaging business London Fancy Box Co Ltd to Italian manufacturing group Pusterla 1880 SpA (Pusterla).
Brachers LLP today made public its advisory role in the sale of Dover-based luxury packaging business London Fancy Box Co Ltd to Italian manufacturing group Pusterla 1880 SpA (Pusterla). The transaction team was led by James Bullock, Head of Corporate.
The transaction was successfully completed in four weeks and Reeves provided tax and corporate support on the deal. The deal will create one of the largest luxury packaging groups in Europe.
Under the terms of the agreement, LFB will become a wholly owned subsidiary of Pusterla during 2014. Christopher and Matthew Lawson, principal shareholders of the LFB, will join the Meana family as minority shareholders in Pusterla.
Pusterla, based in Italy with facilities in Milan, France and Romania have been manufacturing since 1880. Their product range covers rigid boxes and carton supplying into the Wines & Spirits and Perfume & Cosmetics market as well as other luxury sectors. Pusterla will remain owned and managed by the Meana family. LFB has been family owned for 115 years and is based in Dover. The business supplies presentation packaging to the Beautycare, Entertainment, Wines & Sprits and Publishing markets. The combined experience and capability of the two companies will enable the most innovative solutions for customers in terms of design, flexibility, and capacity.
The LFB management team will remain in place and be strengthened by the appointment of Roberto Marini (General Manager of Pusterla) as a non-executive director.
Roberto Marini commented:
“For some time we have been looking to increase our luxury packing capacity in Europe, and we are certain that LFB represents the perfect fit for us.The company enjoys a prominent position in the UK market and we are delighted to have reached agreement with this long standing and prestigious, family owned company.”
Christopher Lawson (CEO of LFB) commented “this is the most exciting opportunity for our business in a generation. The combined group will have an unrivalled capability to meet the requirements our burgeoning European client base.”
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