Langleys have advised Encore Envelopes on its acquisition of Leeds-based Great Northern Envelope Company (GNE) from administration.
GNE had experienced some difficult trading conditions but the acquisition of Tyne and Wear – based Encore Envelopes has saved 129 jobs.
Established in 1984, Encore Envelopes has a turnover in excess of £28m. it produces nearly three billion printed envelopes form its factory in Washington for the direct mail and transactional markets, serving the same sector as GNE.
Following the acquisition, Russell Croisdale, managing director of Encore Envelopes, said: “it’s great news that we have been able to purchase the business and assets of GNW as this transaction will provide continuous employment for the company’s experienced and loyal workforce.
Importantly the acquisition, coupled with the on-going strong financial and technical support which Encore can provide, will also ensure the continuity of supply for all Great Northern Envelope customers from its factory in Leeds.”
The business will trade as Great Northern Envelopes going forward.
Joint administrator Nick Reed added: “While GNE has faced tough trading conditions in recent years, it will benefit from being part of a large, established company like Encore. In the circumstances, the sale is the best possible outcome for creditors, staff and customers.”
Encore Envelopes was advised by PwC and by a team from Langleys comprising Christian Hunt, Mini Setty, James Bradley and Oliver King. Begbies Traynor was advised by Irwin Mitchell.