International packaging provider Quadpack has taken a controlling interest in promotional company Spirit Ltd, to complement its offering to the health and beauty industry. Quadpack, a €28 million turnover organisation, plans to take the Spirit formula and launch it onto the European stage.
“We saw an opportunity here and we took it,” said Tim Eaves, Quadpack CEO. “Spirit is a highly creative entity that simply needs the structural and operational backing to take it to the next level. Quadpack is uniquely placed to offer that backing and we are confident it won’t take long before our investment pays off.”
Initial investment in January 2010 revealed a natural synergy between Quadpack and Spirit on multiple levels. The companies share the same customer base and offer complementary products to the same industries. While Quadpack intends to integrate certain business functions, however, Spirit will remain a separate entity.
The acquisition of Spirit allows Quadpack to offer a broad range of complementary products. Spirit provides a variety of stitch-and-sew bags (cosmetic, brush, clutch, tote, travellers, wash bags, etc.) and clothing (dressing gowns, slippers, etc.), as well as beauty and spa accessories (brushes, manicure sets, mirrors, etc.), all aimed at enhancing brand image.
“We are delighted to be part of the Quadpack Group. Our clients are by and large the same, but now we have the full resources of Quadpack available to service our client base on a global scale. Our existing clients will also be very interested in Quadpack’s primary packaging,” said Spirit financial controller, Lorna Lane.