Birmingham-based industrial group Metalrax – better known for its automotive components – will be exporting wine racks to the French following the £3.5m acquisition of RTA last week.
RTA is the world’s largest manufacturer of wine racks and exports more than half its turnover to over 50 countries. The business will form part of Metalrax’s housewares division.
The company is paying £3m in cash on completion plus a performance-related sum of up to £500,000.
Chairman Eric Moore, meanwhile, welcomed government aid for Rover’s Longbridge plant, a key customer of Metalrax’s components business.