Mpac Group Plc (LSE:MPAC) has announced the acquisition of CSi Palletising, a Netherlands-based company specialising in automation and palletising solutions, for €56 million (£46.7 million).
Adam Holland, chief executive of Mpac, said the deal “will significantly transform our customer offering and core capabilities, consistent with our stated strategic ambition”.
“We have substantially expanded the breadth of our technology and extended our customer reach globally. We are excited about the numerous growth opportunities for the enlarged group," he added.
Mpac also announced a £29 million placing and £1 million retail offer to help fund the acquisition.
Shares are being offered at a 3.6% discount to yesterday’s closing price.