Cotswold-based Cotek Papers Limited has been sold to German manufacturer Laufenberg in a deal described as ‘good news’ by the British firm’s management team.
According to the Moreton-in-Marsh business, all 51 of its staff will be kept on following the sale for an undisclosed sum – and the brand name will be retained.
The family-run and owned firm was founded in 1964 and supplies adhesive tape to packaging manufacturers as well as companies in the medical, graphic art, automotive and personal hygiene industries.
Brothers Adam and Scott Hazell sold the business with advice from the corporate and commercial team at law firm Lodders, which has offices in Cheltenham.
Scott described the German business as the family’s ‘desired partner’, adding he had ‘confidence for a successful future’ for the company.
Laufenberg manufacturers silicone coated films and papers, employs 230 staff and turns over in the region of £70 million.
By Andrew Merrell
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