This family-owned packaging maker has radically restructured its business since Montagu Private Equity bought a 47% stake for £860m in 2003. It has sold off numerous subsidiaries and used the proceeds, along with capital provided by Montagu, to buy firms that are closer to its core business. Last year it acquired Allibert Buckhorn, a French packaging company, and merged it with its own European business. The combined unit now accounts for almost a third of sales. Chief executive Mike Arrowsmith oversaw sales of £1,151m in 2006.
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