It’s the latest buy for the acquisitive €1.5bn (£1.25bn) group, which took over the Williams Lea CCM business earlier this month.

Dean Packaging is based in Pontypool, Wales, and makes double- and single wall corrugated cartons, either plain or bespoke printed. It also supplies a range of other packaging products including bubble wrap and loose fill, edge protectors, heavy duty pallet boxes and postal boxes. 

The terms of the deal were not disclosed. 

The latest acquisition adds to Paragon’s existing Trenton packaging business (formerly Trenton Box), acquired in 2020. Saint Neots-based Trenton specialises in printed sleeves and cartons for food packaging, as well as offering co-packing and fulfilment services.

Paragon described Dean Packaging’s supply chain facility as “substantial” and said the business was highly complementary to the Trenton offering.

Paragon Group executive director of corporate development John Rogers said the business remained on the lookout for further buys in the packaging realm. 

He said: “Paragon Group intends to continue its acquisitive and organic growth in packaging in the UK and across Europe to help strengthen its customer offering and broaden its range of solutions, in line with the group’s Buy, Build and Grow strategy.”

Dean Packaging directors Ian Kennedy and Iain Paget remain with the business, and said the new ownership would provide the company with “a long-term platform for growth”.