BRUSSELS, 25 August 2015 (RISI) - The Scotland-based paper and board trading company PG Paper has bought Scottish paper and board manufacturer Tullis Russell's Trucard and its associated product brands, as well as the Gemini range from KPMG. The firm did not disclose the amount of the transaction.
According to PG Paper, Tullis Russell sold 73,142 tonnes of Trucard branded paper last year. The trademark, which includes a wide range of premium coated and uncoated solid bleached sulphate (SBS) boards, is associated with the Tru, Truflo, Truscal, Trulux and Trusilk brands.
The Gemini brand is a cartonboard product similar to Trucard, the firm said.
Tullis Russell was sent to administration on April 27. In May, PG Paper approached KPMG administrators about a possible deal to take over the business.
Earlier, the firm announced that it was looking for opportunities to expand its business through the acquisition of companies compatible with its business strategy and model.
"Historically, PG Paper's strength lay in graphical grades and in recent years we have experienced significant growth in packaging and specialty papers and boards," PG Paper's owners Puneet and Poonam Gupta said, adding: "We feel that Trucard and Gemini will enable us to solidify our presence and build upon our recent successes to achieve our ambitious growth plans for the future."