Printpack Inc. is selling off its United Kingdom operations to local managers in conjunction with pension trustees.
The deal involves locations in Bury, Lancashire, and Saffron Walden, Essex, and 330 workers.
Plans are to change the name of the operations to Pulse Flexible Packaging Ltd. after the sale is finalized.
“With an MBO (management buyout) we can ensure a continuation of ‘business as usual’ for our employees, customers and suppliers. This is a very exciting opportunity for us all and there is enormous potential for the new company given our investment plans,” said Mike Collins, who will be appointed managing director.
The new company plans to add a new short run flexo press with an in-line cold seal facility in the months ahead.
The company said it will continue under the Printpack name “for a period” after the sale is completed before transitioning to Pulse Flexible Packaging.
Printpack, based in Atlanta, is a maker of flexible and specialty rigid packaging.