Coral Products, a specialist in the design, manufacture and supply of plastic products based in Wythenshawe, Manchester, has acquired Ecodeck Grids Limited (Ecodeck) in a deal worth up to £5.6m.
Nottinghamshire-based Ecodeck supply a range of building and landscape products from driveway grids, gravel pathway grids to plastic shed bases and grass grid reinforcement. The range of products are all environmentally and eco-friendly being made from 100% recycled plastic.
It is currently owned by Matthew and Kelly Staples. Ecodeck, which is based in Sutton-in-Ashfield will continue to operate from its existing premises.
According to unaudited financial statements for the year ended 30 January 2022, Ecodeck’s sales were £6.8 million, profit after tax was £0.9 million and net asset value was £1.9 million.
Executive chairman of Coral Products, Joe Grimmond, said: “This acquisition further reinforces our focus on niche, specialist operators in the plastics sector. We have an opportunity to leverage Ecodeck’s on-line platform for other group eco-friendly products.
“We see significant scope to add value as we integrate the business into the group – the acquisition continues to broaden our group’s product offering and greatly enhances our available market opportunities. We expect this acquisition will be earnings enhancing in its first year.”
