Denmaur Independent Papers has reached an agreement to acquire the business and assets of the Fine Paper and Conversion division (incorporating Vision Paper and Board) from Middleton Paper Company, with completion scheduled for mid-July.
Middleton’s staff will continue to operate from their location in Walsall and the Middleton brands will also remain under the new ownership.
With Denmaur’s warehouse in Bardon, the combined storage capacity following the acquisition will cover 21,832m2. The combined turnover of both companies is in excess of £140m and the employee head count will be 128 once the purchase has been finalised. The TUPE process at Walsall commenced on Wednesday 22 June with a targeted completion date due on or around 14th July.
This will represent Denmaur’s first acquisition since Harry E Gould Jr. took a majority shareholding in the company in 2019. He said of the move: “We are acquiring an on-going and profitable operation in Middleton, and although a slightly different business model, the combined strengths and differences of the two companies will generate added value and a unique opportunity for the UK paper and board market going forward” .
Denmaur has steadily grown since opening in 1983 to become one of the UK’s leading paper merchants, specialising in supply for the publishing, commercial print and carton board sectors. Middleton has made its name largely through its conversion services in the graphic paper and board market, with the introduction of a merchanting arm, Vision, in more recent years.
Denmaur MD Nick Gee, said: “Denmaur and Middleton share the ethos of a family-owned business as well as a tremendous respect for employee commitment, which has been instrumental to the success of both companies. The acquisition adds another facet to our business, allowing us to provide making sizes of paper and board to our customer base with short lead-times.”
He added: “We have worked with Middleton for many years and recognise the quality of the conversion services they offer, it is a perfect fit that will enable us to provide a further enhanced service package to both our and their customer bases.”
Jason Middleton, MD of Middleton Paper, said: “Having led the team of dedicated people who have grown our fine paper and conversion division for over 35 years, I am excited to see the progress we will make during the next phase of this operation's development. We will all continue to enjoy secure, independent ownership that fully supports the proactive and progressive management team that I will be joining.”
Denmaur divisional director, Andy Buxton, concluded: “This is a very exciting time for Denmaur, and we believe this acquisition is a perfect fit and demonstrates our direction of travel. I have known the Middleton business and Jason for many years, and we are all very excited to be working alongside each other as a wider team. It will put us in a very strong position to support our customers and suppliers with many more opportunities.”