PG Paper has acquired two brands owned by the collapsed papermaker Tullis Russell.
Kilmacolm based PG, owned by husband and wife Puneet and Poonam Gupta, said it had paid a “substantial” but undisclosed sum for the Trucard and Gemini ranges.
Tullis Russell was said to have sold more than 73,000 tonnes of Trucard, which is available is 76 countries, in 2014. Gemini is a similar cartonboard type of product with both brands used by modern printers as well as in high quality packaging.
In a joint statement the Gupta’s said: “We are delighted to have acquired two incredibly reputable and well-respected brands in the premium packaging board industry.
“As a global paper company we feel the addition of these brands to our portfolio will enable us to strengthen our presence and continue to grow our established position in the market.
“Historically PG Paper’s strength lay in graphical grades and in recent years we have experienced significant growth in packaging and speciality papers and boards. We feel that Trucard and Gemini will enable us to solidify our presence and build upon our recent successes to achieve our ambitious growth plans for the future.”