James Clark and Howard Smith from Interpath were appointed joint administrators to Arrow Film Converters Limited on Tuesday (1 April).
In a statement, the administrators said they had successfully sold the business and certain assets to Coral Products PLC, through its wholly owned subsidiary Film & Foil Solutions Limited.
They added the transaction would ensure the continuation of operations at Arrow’s production facility in Castleford, West Yorkshire and the preservation of 55 jobs.
The sale includes flexographic printing machines, laminators, and other key assets that will complement Film & Foil’s existing business, enhancing its capabilities in specialist flexible packaging. Specific info on the exact kit included has not yet been disclosed by the administrators.
The agreement also includes a six-month license to occupy the fully accredited BRCgS Castleford facility, with a view to negotiate a long-term agreement for the premises.
Clark, joint administrator and managing director at Interpath, said: “We are very pleased to have secured the sale of Arrow Film Converters, safeguarding 55 jobs and providing a strong platform for growth under new ownership.
“This transaction ensures continuity for employees, customers, and suppliers while enabling the business to thrive as part of the Film & Foil and Coral Products group.”
Joe Grimmond, non-executive chairman of Coral Products, also commented: “This acquisition propels Film & Foil into the front line of specialist flexible packaging and provides Coral Products PLC with capacity toward its medium-term goal of £50m of production availability.”
Arrow Film Converters previously had a Winding Up Petition filed against it on 26 February 2025 by Echo Packaging Limited.
Wythenshawe, Manchester-based Coral Products is a group of specialist businesses in the design, manufacture and omnichannel supply of a wide range of bespoke plastic products.
In its own market announcement, the company said it had agreed to purchase the business and certain assets of Arrow Film Converters from its administrators for a total consideration of £502,899 in cash, through Film & Foil.
The company said it has made an initial cash payment of £202,899 with the outstanding balance of £300,000 to be settled within 14 days following completion.
This balance is secured by way of a company guarantee in favour of Arrow’s administrators, which will be released upon receipt of full payment. The cash payments have been funded without any increase to existing group facilities.
Arrow, which is an approved supplier to UK supermarkets and was established in 2003, reported sales of £12.5m in the 12-month period to 31 January 2022, £17.9m in the 18-month period to 31 July 2023, and has current sales demand of around £1m per month.
Coral Products said there could be no guarantee that similar financial performance would be replicated following integration into Film & Foil and the broader group.
In 2021, Printweek reported that Arrow Film Converters had initiated a move over to an innovative water-based inks process following the successful completion of trials.
