Rescue deal saves 92 jobs at Cannock manufacturer
All 92 jobs have been saved at a manufacturer and supplier of aluminium foil products after the company was sold out of administration.
Cannock-based Nicholl Food Packaging has been acquired by Coppice Alupack, which is part of the Euro Packaging Group and operates from a base in South Wales.
Nicholl was established in 1989 and supplies the food distribution and processing industry, predominantly in the UK and US, from its base in Walkmill Lane, between the A5 and the M6 Toll.
However it had run into difficulties and Eddie Williams, Sarah O’Toole and Jon Roden of Grant Thornton were appointed joint administrators on July 24.
Mr Williams said: "I am absolutely delighted that we have been able to conclude a sale of all the operations to Euro Packaging Group.
"Nicholl had been experiencing significant cash and creditor pressure over several weeks prior to our appointment and our rapid assessment of its funding position and viability underlined the serious challenges the business faced.
"The Grant Thornton and Euro Packaging team have worked tirelessly since our appointment to achieve this sale on an accelerated basis under these difficult circumstances."
Shabir Majid, of Euro Packaging, added: "We are delighted with this acquisition, the group will gain the benefit of Nicholl’s increased capacity , tooling range and customer portfolio within their sector and in particular allow us to expand further into UK and overseas.
"This acquisition now firmly places Coppice Alupack as the leading supplier of Aluminium foil products into the UK market."
