Acquisition

5 May 2006 09:00

Robinson PLC05 May 2006 FOR IMEDIATE RELEASE 5 May 2006 ROBINSON plc Acquisition Robinson plc ("Robinson" or "the Company"; stock code: RBN), the AIM-listedcustom manufacturer of paperboard and plastic packaging, announces theacquisition of the business of VR Plastics based at Stanton Hill ('VR StantonHill') in Nottinghamshire, for a cash consideration (subject to valuation ofstocks, debtors and leases) of around £2.8m, which broadly equates to the bookvalue of the assets. The assets include a freehold property at Stanton Hillvalued at £1.4m. The acquisition will be financed by bank debt. VR Stanton Hill is a plastic injection moulding business that was established in1996. The principal client is a major international branded goods company. VRStanton Hill employs approximately 85 people at its premises nearSutton-in-Ashfield and was broadly break even in the year to 31 December 2005 onsales of £4.7 million. The acquisition is expected to be earnings enhancing in2007. Commenting on the acquisition, Robinson's Chairman, Richard Clothier, said: "This acquisition of VR Stanton Hill is a good strategic fit for Robinson. Thebusiness has developed a strong relationship with its major customer over manyyears and we expect to achieve valuable synergies through close co-operationwith Robinson's existing injection moulding businesses in Kirkby-in Ashfield,just a few miles away." Steve Wakelin, business unit director of VR Stanton Hill, added: "The VR Stanton Hill team is delighted to join Robinson. Being part of a largergroup brings significant commercial benefits, as well as financial security,which will enable development of the business." The above numbers are unaudited and relate to a business rather than a company. - Ends - Notes to EditorsAbout Robinson plc Based in Chesterfield, and with additional manufacturing facilities inKirkby-in-Ashfield, Nottinghamshire, in Toronto, Canada, and in Lodz, Poland,Robinson currently employs over 400 people. It was formerly a family business,with its origins dating back some 165 years. Today the Company's main activitiesare in the manufacture and sale of rigid paper packaging and injection mouldedplastic packaging. Robinson operates primarily within the food, drink,confectionery, cosmetic and toiletry sectors, providing niche or custommanufacture to major players in the fast moving consumer goods market, such asNestle, Northern Foods, Lever Faberge and Cadbury. The Company also has asubstantial property portfolio with significant development potential. For further information, please contact: Jon Marx, Chief Executive, Robinson plc 01246 220022 www.r1son.co.ukSusan Scott/Daniela Hale, Bankside Consultants 020 7367 8888 This information is provided by RNS The company news service from the London Stock Exchange