Wheatley and its 140 staff produce printed flexible packaging for the frozen foods and hygiene product industries. Clients include Tesco, Asda, Marks & Spencer and Sainsbury’s.
Wheatley’s management, which took over the £16m-turnover company in a 1998 MBO, will remain in place, according to Frantschach.
The deal will create a business with annual sales approaching £60m.
