- Packaging company Mpac Group said it had acquired Lambert Automation for up to £17.5m.

Lambert was founded in 1973 and was a provider of automation solutions to the medical and consumer healthcare markets.

The deal included an upfront payment of £15.0m, plus an earn-out consideration of £2.5m.

'Lambert is a high-quality business with proven performance and long-standing embedded relationships with global blue-chip customers,' chief executive Tony Steels said.

'Clear synergies exist in the market, technologies and supply chain which will provide our customers and potential new customers even greater confidence in the delivery of complete turn-key packaging solutions.'

At 9:59am: [LON:MPAC] MPAC Group Plc share price was +16p at 147.5p

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