Image: Duckhams
34 DEALMAKERS
PUSHING THE ENVELOPE
The acquisition of a Blackburn envelope manufacturer has been sealed in a move seen as important in consolidating the sector in the UK and Europe.
Heritage Envelopes has been bought from German parent company Mayer-Kuvert-network GmbH by north east based The Encore Group for an undisclosed amount.
The move brings together two of the UK’s longest established and most successful envelope makers.
Mike Bewsey with Zuber Issa WHEELS OF TRADE
Zuber Issa’s dealmaking drive continues. The Blackburn businessman’s latest move has seen him take a stake in an iconic 126-year-old British motor oil brand.
He plans to relaunch Duckhams, which has a significant history in motorsport, on the forecourt through his 150-strong EG On the Move chain.
The deal comes nine years after investors, led by chairman Jabir Sheth, revived the Bolton company’s name after its divestment by BP, which had originally bought the brand in 1969.
Since then, Duckhams products have been introduced into more than 25 countries. However, its presence in the UK has been limited largely to trade outlets. The company employs 100.
Mike Bewsey, global chief executive of Duckhams, says Zuber’s equity investment “signals strong confidence in the Duckhams brand, its leadership, and its long-term vision”.
He adds: “Zuber is a very successful entrepreneur and has a proven track record
and strategic insights that will be invaluable as we scale our business in the UK and globally.”
The deal, for an undisclosed sum, is the latest significant investment by Zuber, the co-founder of EG Group and former co-owner of Asda, since the breakup of the business empire built with his brother Mohsin.
Earlier this year his Blackburn headquartered petrol forecourts business EG On the Move took over almost 100 sites from service station operator Applegreens.
The deal, announced in early February, was described by the business as a move to “create a retail powerhouse” in the independent petrol forecourt sector.
Zuber acquired the forecourt division of EG Group, the company he co-founded with Mohsin in 2021, in a £228m deal last June, renaming it EG On the Move.
Meanwhile, there continue to be reports that EG Group is set to end 24 years as a private company with a $13bn float on the New York Stock Exchange later this year.
David Cooper OILING THE
The Encore Group says the deal will provide “much-needed consolidation” to help maintain a healthy envelope market, throughout both the UK and Europe.
Heritage has been acquired as a going concern and will continue to trade as a subsidiary of Encore. Founded in 1986 Heritage is said to produce about 150 million envelopes each month.
Already boasting a workforce of more than 300, Encore’s management says it will secure many existing jobs and create new roles at its sites in Washington and Dewsbury.
David Cooper, managing director of Encore, says: “Acquiring Heritage brings together two highly respected names in the envelope world and enables our group to bolster production levels.”
The acquisition marks yet more growth for The Encore Group, which has gone from strength to strength since it was formed more than 40 years ago.
Former Heritage managing director Mark Sears will continue in the same role with Bestpac UK, a paper bag manufacturing company owned by the business which will continue to operate.
He says: “This deal is important for both parties as it allows Mayer to concentrate solely an exciting phase of growth for Bestpac and for Encore to boost its envelope volumes in what is a very tough market.”
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