News blog
Robinson
- BY: Andrew Hore |
- POSTED: 12/07/2011 |
Plastic packaging manufacturer Robinson is buying 35% of ice cream boxes maker Scotplast.
Glasgow based Scotplast generated a profit of £100,000 on revenues of £4.1m in the year to September 2010. Robinson is paying £250,000 for the stake. Robinson has also provided Scotplast with a £300,000 credit facility that expires at the end of June 2014.
Robinson has taken a put and call option over the remaining 65% of Scotplast, which can be exercised between 1 October 2013 and 30 April 2014. The price will be based on performance in the two years to September 2013. Robinson has agreed to accept a higher offer from a third party.
Robinson recently raised £2.6m from selling its paperboard tube packaging business.
At 90p a share, Robinson is valued at £14.4m.
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