RPC Group PLC, Europe’s leading supplier of rigid plastic packaging, has acquired rigid plastic packaging supplier Maynard & Harris Group (M&H) for a total deal value of £103.5 million. M&H will operate as an independent business within RPC’s Bramlage, UK, cluster and will enhance the group’s leading personal care product offering in the UK, mainland Europe and the US.

RPC says the acquisition is a good strategic fit with and offers significant benefits including complementing RPC’s existing strong presence in European rigid plastic personal care packaging; creating a stronger platform for the group in the US operating from two manufacturing sites with total enlarged group US turnover of circa US$84 million; extending the group’s product ranges to include flexible tubes and allowing for pre-tax purchasing synergies of at least £1 million within the first full year of ownership with additional commercial and working capital synergies to be achieved going forward

The acquisition is expected to be significantly earnings enhancing for the group in the next financial year ending 31 March 2015.

M&H supplies packaging to the personal care, healthcare and selected food segments, across all blow moulding and injection moulding conversion processes. The company’s business model is focused on high added-value packaging and flexible customer service.

Employing 700 people, M&H offers a wide range of personal care standard designs alongside fully customised packaging, supported by high quality decoration capabilities and an extensive in-house tool library. It sells product predominantly to markets in the UK, mainland Europe and the US as well as further afield. Sales to the UK and mainland Europe are made from the company’s principal manufacturing site in Beccles, UK. M&H is also enjoying a growing presence in the US market from its manufacturing site in Winchester, Virginia.

Pim Vervaat, Chief Executive of RPC, commented: “Following the announcement of ‘Vision 2020’ in November, the acquisition of M&H represents an important step in realising RPC’s strategy of selective consolidation in Europe and the creation of a meaningful presence outside of Europe.”