Bradford company Storey Evans specialises in pharmaceutical packaging and has a turnover of 12m. According to MSO Group chief executive Dominic Walsh, the acquisition is part of a wider strategy.

"We believe that the pharmaceutical sector is one with potential for significant development," he said. "Storey Evans is a complement to our Cartonmaster operation."

The deal, for an undisclosed sum, will not affect the 183 staff at Storey Evans and the existing management structure will remain in place. The firm's clients include pharmaceutical company GSK.

"It is very much a coming together of cultures, although we have not rushed this acquisition through," added Walsh. "From the point of initial discussions, it has taken a year to complete the deal."

Walsh also said that MSO Group was likely to make a further buy and is looking at other markets.

"We are not limiting ourselves to any one sector and strategic acquisitions are a key component to our business planning," he said.

Prior to buying Storey Evans, MSO Group had a turnover of 23m and a workforce of 240. Alongside the Belfast operation it has two Chesire plants Galloways and Cartonmaster.

Last year, Walsh was appointed president of the BPIF.