Has RPC Group been buying growth? Some of its shareholders clearly think so and they’re not happy (Miles Costello writes). Nor is the chairman, who’s blaming his antsy investors for getting in the way of expansion and the company’s lowly valuation. There’s a tension and it looks as if sparks are set to fly.
RPC is a specialist in designing and making plastic packaging, which was set up in 1991 and has expanded rapidly through acquisitions. In fact, there have been no fewer than six transactions in the past two and a half years, costing the business a total of about £1.17 billion.
The company has taken its foot off the deal-making gas in the past year, save for a small foray into a business