Barclays Corporate has acted as one of the Mandated Lead Arrangers to support RPC Group PLC with funding to acquire Superfos Industries.
The new banking facilities comprise a £200m multicurrency revolving credit facility which matures on September 30, 2015 and a €130m bridge term loan with a maturity date falling 18 months after the acquisition.
RPC PLC is the leading supplier of rigid plastic packaging in Europe, with manufacturing operations in 11 countries across the European Union and the US, including operations in Rushden (Northamptonshire), Essex and Lincolnshire.
The acquisition of Superfos, a manufacturer of injection moulded rigid plastic packaging, will allow the company to gain entry into higher growth markets and materially enhance RPC's earnings per share.
Pim Vervaat, chief finance officer, RPC Group PLC said: “We were delighted that our long relationship with Barclays has been strengthened by their ability to jointly arrange our acquisition finance facilities.
“John Laud, as the relationship director, has worked with us since 2004 and his knowledge of how we operate and the wider sector mean Barclays Corporate is a key banking partner for us. The latest deal was pulled together in very tight timescales and we are delighted with the outcome which has allowed us to announce the proposed acquisition exactly on the day we had originally planned.”
RPC is Europe's leading plastic packaging manufacturer, serving a wide range of customers with rigid plastic packaging - from the largest European producers of consumer products, to the smaller national businesses.
It holds particularly strong positions in the beauty and personal care sectors, the vending and drinking cup markets, the margarines and spreads industry, and in multi-layer sheet and packaging for oxygen sensitive and other food products.
John Laud, Relationship Director, Barclays Corporate, Eastern said: "I was pleased that my Barclays Corporate Debt Finance team were able to pull this deal together so quickly for our client. We have built a strong working relationship with the RPC Group and are delighted that we have been able to support them with their latest acquisition. We look forward to helping them to further grow their very successful company in the future.
• PHOTOGRAPH SHOWS: John Laud