Maclay Murray & Spens acts for polythene producer in proposed takeover

Maclay Murray & Spens LLP (MMS) is advising British Polythene Industries plc (BPI) on its proposed recommended £261 million takeover by RPC Group plc(RPC), which was announced today.

BPI is a Scottish headquartered PLC and longstanding client of MMS. The company is a polythene films producer in Europe and supplies approximately 275,000 tonnes per annum.

RPC was established in the UK in 1991 and is now a global organisation employing 18,000 people in 112 sites across 24 countries and generating revenues in excess of £2 billion per year.

MMS partner Brian Moore, who leads the firm’s BPI team, said: “This is perhaps the highest profile corporate deal of the year so far in Scotland.

“The proposed transaction will be transformational for both parties. It will give BPI the opportunity to expand and grow its business globally as part of a much larger corporate group, and RPC an established platform in the European polythene films market.

“Our team’s deep experience in the manufacturing sector and of public company takeovers, which in recent years has included the £280m takeover of Robert Wiseman Dairies plc by Müller Dairies, meant we were able to hit the ground running and help deliver today’s announcement in a very short time frame.”

Speaking on behalf of BPI, chief executive John Langlands said: “I can’t speak highly enough of Brian and the team at MMS. Their advice has been commercial, proactive and pragmatic.

“The experience they bring to the table gives you confidence and most importantly they are completely focussed on making sure the deal is delivered to plan.”