Robinson takes stake in Scotplast
Chesterfield-based packaging company Robinson has taken a 35 per cent stake in plastics company Scotplast for £250,000.
Robinson will fund the deal with existing cash and has agreed a put and call option for the remaining shares, which can be taken between 1 October 2013 and 30 April 2014. The price per share will be based on the company's performance in the next two years.
Robinson has also agreed to sell its stake in the business if a higher offer is received from another buyer.
Scotlplast, which is based in Glasgow and manufactures plastic ice cream boxes for commercial and retail markets, posted turnover of £4.1m for the year to 30 September 2010.
Its profit was £100,000, with total assets of £3.8m.
Adam Formela, Robinson CEO, said: "We are pleased to have the opportunity to get involved in this interesting business that serves the UK food market, at this time.
"We believe that Robinson has some positive contributions to make that should further enhance the business performance."
