Acquisition Announcement

Middleton Vision acquisition

This will represent Denmaur's first acquisition since Harry E Gould Jr. took a majority shareholding in the company in 2019. Denmaur's Chairman, Harry E Gould Jr., commented, "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"Both customers and suppliers alike will benefit from the synergies created by bringing our companies together, as well as broadening the range of opportunities available to us in a challenging market throughout the years ahead". With Denmaur's warehouse in Bardon, the combined storage capacity following the acquisition will cover 235,000 square feet. The combined turnover of both companies is in excess of £140 million and the employee head count will be 128 once the purchase has been finalised.

Denmaur Independent Papers can confirm that it 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 Ltd, 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.

Denmaur have steadily grown since opening their doors in1983 to become one of the UK's leading paper merchants specialising, in the supply for the publishing, commercial print and carton board sectors. Also known for their sustainability services, Denmaur recently announced the landmark 100,000 tonnes of Carbon Balanced Paper sales. Middleton have made their name largely through their conversion services in the graphic paper and board market, with the introduction of a merchanting arm, Vision, in more recent years.

Mike Gee, CEO of Denmaur, noted, "This takes me back to my roots, before we started Denmaur, when I worked alongside Jean Stanley at M6 Paper who were then a very successful merchanting and conversion company. Jean is now part of the Denmaur team and will no doubt share our excitement of sales and conversion coming together again."

Denmaur Managing Director, Nick Gee, stated, "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."

Nick 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, Managing Director of Middleton Paper, agreed, "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."

The TUPE process at Walsall commences on Wednesday 22nd June with a targeted completion date due on or around 14th July.