Bradman Lake Group, the end-of-line machinery specialist which recently announced the start of construction of a new multi-million pound factory and office development in Norwich in the UK, says it is to sell its Albro, Dico and Gravfil powder filling machinery business to an unnamed “newly formed organisation”.
Terms of the deal, currently in “the final stages of agreement”, have not been disclosed.
The three companies became part of the Group on its acquisition of GEI Packaging in 2004. Bradman Lake says that in the two years since the acquisition it has reviewed the options for Albro, Dico and Gravfil and has “concluded that these valuable brands and its customers will be better served as a separate business”. A Group spokeswoman added: “It has been decided by management that these businesses undertake activities no longer core to future Bradman Lake Group strategy; thus the decision to sell.”
Gordon Bell, the group’s business development director, adds: “We are very proud of the achievements that the (Albro, Dico, Gravfil) team has contributed over the previous two years and are convinced that this new development will prove beneficial to these outstanding and recognised brands.”