French packaging multinational Groupe Guillin has officially taken over UK packaging specialist Sharp Interpack following an initial deal in January.

Groupe Guillin SA acquired 100 per cent of the shares and assets of Sharp Interpack Ltd this month after initially agreeing a deal on 5 January.

Sharp Interpack has three industrial sites Ayelsham, Bridgwater and Yate and is forecast to turnover £86 million in the 2009/2010 financial year.

The acquisition will allow Groupe Guillin to perform more than 60 per cent of its business outside France.

The consolidation of accounts is expected to make a positive contribution for both parties in terms of operating profit as the net income and cash flow for group accounts are combined.

In a statement, Groupe Guillin said: “The combination of Groupe Guillin’s expertise alongside Sharp Interpack’s UK market experience allows Guillin to strengthen its leading position on the European market for fruit and vegetables.”