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

"We believe that the pharmaceutical sector is a market that has potential for development," he said. "Storey Evans is a significant 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 company's clients include pharmaceutical business 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 of our business planning," he said.

MSO was understood to be in the process of buying part of the TP8 (formerly Boxstar) business and is expected to conclude a deal this week.

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

Walsh was appointed to the position of president of the BPIF seven months ago.

He said that a strategy of partnership in the industry will help the UK survive competition from abroad.

"The unions have a role to play if we are to compete with Eastern Europe," he said.