New owners for Paragon Print and Packaging which has one of its 10 factories in Wisbech

PUBLISHED: 12:49 02 January 2013 | UPDATED: 14:19 02 January 2013

Andrew Murtagh, left, a director at Equistone, which has sold its investment in Paragon Print & Packaging, with Paragon s founder and former chief executive, Tony Lennon, who remains a consultant to the new management team

Andrew Murtagh, left, a director at Equistone, which has sold its investment in Paragon Print & Packaging, with Paragon s founder and former chief executive, Tony Lennon, who remains a consultant to the new management team

Archant

PARAGON Print and Packaging, - which has a 40,000 square feet factory in Wisbech- has been bought by private equity group Sun European Partners.

Lincolnshire-based Paragon, which has nine other manufacturing sites around the UK and employs more than 1,200 people, was previously owned by private equity investor Equistone Partners Europe and co-investor LDC.

Paragon provides labels, sleeves, cartons, films and lined boards to Tesco, Asda, Sainsbury’s, Morrisons, Waitrose and Marks & Spencer, and food manufacturers such as Bernard Matthews, Cranswick, Greencore and Vion.

Equistone has owned Paragon for around five years, during which time the business has increased its turnover from £113million to £171million.

Equistone director Andrew Murtagh said: “We are extremely pleased to have been able to work alongside Paragon’s exceptional management team.

“Together we have ensured that, despite a challenging economic backdrop, the company has performed strongly through a measured acquisition strategy and consistent organic growth.”

Mark Lapping chief executive of Paragon Print & Packaging, said: “The company is in a good position to continue its growth under Sun European Partners’ ownership.”

0 comments

More news stories

A father is offering a reward after his son’s car was torched outside the family home on Saturday.

19:19

MSB Contracting says that on Saturday (October 21) thieves who broke into their Guyhirn premises and made off with valuable equipment.

Police in Wisbech seized their latest vehicle for being on the road with no insurance.

A Dutch initiative that won a Defra award last year for making Carlisle more resilient to flooding is to help Wisbech prepare for its ambitious 12,000 extra homes garden town proposals.

Most read stories

Most commented stories

HOT JOBS

Show Job Lists

Digital Edition

Image
Read the Wisbech Standard e-edition E-edition

Newsletter Sign Up

Sign up to receive our regular email newsletter