OFT says Accraply acquisition of Turpins 'does not qualify' for investigation

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Related tags: Mergers and acquisitions

OFT says packaging takeover 'does not qualify' for investigation
The UK Office of Fair Trading (OFT) has announced that the acquisition of English-based Turpins Packaging Group by US firm Accraply does not quality for investigation.

The OFT decided that the completed deal does not qualify for investigation under mergers provisions, because neither the UK turnover test nor the share of supply test in section 23 of the Act is met.

The competition officials judged a relevant merger situation has not been created.

The OFT said on 12 June it would be studying the transaction that saw Minneapolis-based Accraply expand their shrink sleeve labeling operations with the takeover of England-based Turpins, six weeks after the completed deal was announced.

Turpins designs and manufactures high-performance shrink sleeve equipment under the Sleevit brand for the food, beverage, cosmetics and pharmaceutical industries.

Related topics: Processing & Packaging

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