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

12:49 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

Yesterday, 17:00
The team at Healthwatch Cambridgeshire receive the award.

Healthwatch Cambridgeshire, who work with inspectors to get over patients’ views at hospital and care home inspections, have received a national award.

Saturday, July 4, 2015
Trees like this one will be removed from Wisbech market place

One of the biggest changes since it was acquired by the town council three years ago is under way with the removal – and replacement- of trees on Wisbech market place.

Yesterday, 09:25
Jake Kane

A heartbroken mother is urging parents to kiss their children and tell them they love them as she marks her son’s first birthday since he died in a motorbike crash.

Saturday, July 4, 2015
Crews tackle a house fire in Chatteris. Picture: CAMBS POLICE.

Two house fires in less than 12 hours – one at Watlington near Kings Lynn and another at Chatteris- have left one woman dead.

Most read stories

Digital Edition

Image
Read the Wisbech Standard e-edition today E-edition