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ACX Technologies of the US has announced a £90m management buy-out of the plastics division of its recently-acquired Britton Group.
Britton Group, the plastics and packaging company, has agreed to a £198m takeover offer from ACX of the US.
Britton Group has bought Packbourne, the polythene film converter, for £5.6m.
Britton Group has bought Polylope, the polythene envelopes maker, and Transrap, the converter of film into packaging, from Sidlaw for about £1.5m.