Joy after town firm buys US foil giant
Saturday 19th December 2009, 11:03AM GMT.
A Telford company is celebrating a fitting early Christmas present – after buying the company which makes the foil most of us cook our turkey in.
Wrap Film Systems has literally brought home the Baco Foil, after buying the US-based company and bringing it back into British ownership.
The Hortonwood-based manufacturer completed the deal on Tuesday, buying the foil giant for an undisclosed sum.
And the deal will see an expansion of WFS with a new warehouse in Telford and the creation of between 10 and 15 jobs.
Finance director of WFS, David Smith, said: “We are absolutely delighted to be bringing this household brand to Shropshire. It’s been a couple of months of really hard work but we signed on the dotted line earlier this week.
“We will bring all the manufacturing of the foil into our premises in Telford, probably bring the logistics in-house too and the effect of that will be that we’ll be turning over £50 million. We will be taking on a new warehouse and additional staff.”
WFS is one of Europe’s biggest distributors of cling film and foil dispensers. It is owned by Growth Capital Partners. Baco was founded in 1960 in Amersham, Buckinghamshire, and its aluminium foil launched on the UK market two years later.
It was bought by Alcoa in August 2000 and later sold to US-based Reynold Products Inc.
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Congratulations to you and many thanks for bringing a once British product back home.
It is very unusual for business to be coming into the country instead of going out and the 10 to 15 jobs are much required, with hopefully more to come later!!!!!!
Once again Well Done
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