{"id":6301,"date":"2025-04-03T10:31:56","date_gmt":"2025-04-03T14:31:56","guid":{"rendered":"https:\/\/www.packagingindustrynews.com\/?p=6301"},"modified":"2025-04-03T10:31:56","modified_gmt":"2025-04-03T14:31:56","slug":"coral-products-acquires-arrow-film-converters","status":"publish","type":"post","link":"https:\/\/www.packagingindustrynews.com\/?p=6301","title":{"rendered":"Coral Products acquires Arrow Film Converters"},"content":{"rendered":"


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The new assets will enhance Coral\u2019s film and foil operations. Credit: lowpower225 \/ Shutterstock.<\/figcaption><\/figure>\n<\/p><\/div>\n

Coral Products, a UK-based supplier of flexible and film-based packaging solutions, has completed the acquisition of Arrow Film Converters.<\/p>\n

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The deal was made via Coral Products\u2019 subsidiary, Film & Foil Solutions, for a consideration of \u00a3502,899 ($662,041).<\/p>\n

Under the terms of the agreement, Coral Products will obtain several pieces of equipment such as flexographic printing machines, laminators, and slitting and punching facilities.<\/p>\n

These new assets will enhance Coral\u2019s current film and foil operations and expand its capabilities in the packaging sector.<\/p>\n

The deal encompasses an upfront payment of \u00a3202,899, with the remaining \u00a3300,000 due within 14 days of finalising the transaction.<\/p>\n

This outstanding balance is secured by a company guarantee to Arrow\u2019s administrators, which will be released once the full payment is made.<\/p>\n

The transaction is being funded without any increase to the group\u2019s existing credit facilities, the company noted.<\/p>\n

In addition, Film & Foil Solutions has agreed to a six-month licence for the BRCGS-accredited Castleford facility. Discussions will take place for a longer-term arrangement for these premises.<\/p>\n

Following the acquisition, approximately 55 employees previously with Arrow will be transferred to Film & Foil Solutions.<\/p>\n

Coral Products nonexecutive chair Joe Grimmond said: \u201cThis acquisition propels Film & Foil into the front line of specialist flexible packaging and provides Coral Products with capacity toward its medium-term goal of \u00a350m of production availability.\u201d<\/p>\n

Coral Products is structured into two primary divisions: the flexibles division, which focuses on providing packaging solutions for fast-moving consumer goods clients, and the rigids division, which caters to various other packaging requirements across multiple sectors.<\/p>\n

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