Precision Card Services, which manufactures loyalty and gift cards for the likes of Booths, Pets at Home and Cineworld, has been acquired by Woodberry Packaging.
Details of the deal haven’t been released, but the Macclesfield company has sales of just under £6m.
It was set up by Tim Holt in 1993 and after buying out his co-founder, Rob Nicholls in 2021, he has now decided to take a step back and “focus on new projects.”
“It is clear to me that the team at Woodberry Capital completely understand the strengths of PCS and the culture and ethos that has made it into what it is today, and with their investment and knowledge, I have no doubt that PCS will thrive in the future,” he said.
Woodberry Packaging is a wholly owned subsidiary of Dublin-based Woodberry Capital. It’s the company’s second acquisition in the North West, having bought Lancashire-based Incodia in February.
“We will all be sad to see Tim go, but with the backing of Woodberry Packaging this is a real boost for PCS, and we are certainly set for exciting times ahead!” said Managing Director, Adam Unsworth.
Woodberry Capital is headed up by Patrick Doran, the former owner of £100m turnover, Americk Packaging, which was sold to Saica in 2016
“We are very pleased to announce the acquisition of PCS as we continue to expand our operations and expertise in the sector,” said Doran.
“PCS has consistently led the way in the card market, and its capabilities strongly complement our other print and packaging businesses, and we are confident of its long-term growth as part of Woodberry Packaging. We look forward to working with Adam, the management team, and employees as PCS continues to develop in the coming years.”
The company employs 75 staff.
