REG - Coral Products PLC - Acquisition of the assets of AAC Cyroma Limited

Coral ProductsAnnouncement

16/02/2026 07:00

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RNS Number : 0452T  Coral Products PLC  16 February 2026

Coral Products plc

("Coral", the "Company" or the "Group")

Acquisition of the assets of AAC Cyroma Limited

Coral Products plc, a group of specialist businesses in the design, UK
manufacture and omni-channel supply of a wide range of bespoke plastic
products based in Wythenshawe, Manchester, is pleased to announce that it has
agreed to purchase the assets of AAC Cyroma Ltd  ("AAC Cyroma") from its
liquidators for a total consideration of £95,000 in cash, through its wholly
owned subsidiary Manplas Ltd ("Manplas"), part of its Rigid Plastics Division.

The acquisition was completed via an insolvent sale from the joint liquidators
for selected plant and machinery, goodwill,

 stock and certain intellectual property. No shares were acquired, and no
historic liabilities, pension obligations or creditor balances have been
assumed by the Group.

The total consideration payable for the acquisition was £95,000 plus VAT and
was funded from the Group's existing cash resources.

AAC Cyroma generated revenues of approximately £2.5 million in the year ended
30 September 2024 (with similar revenue performance achieved in the prior
period) and operated in similar end markets to Manplas, where it had been a
direct competitor. The business experienced financial distress following a
change in ownership and management in October 2024, which ultimately resulted
in its insolvency.

All employees of AAC Cyroma were made redundant prior to completion. Manplas
intends to retain a limited number of key technical personnel, subject to
agreement, in order to support knowledge transfer and customer continuity.

The Group has agreed an eight week licence to occupy and expects to complete
the relocation and integration of the acquired plant and machinery into
Manplas' existing manufacturing facility in Wythenshawe within eight weeks of
completion. The integration will be undertaken within the Group's existing
operational footprint and is not expected to result in any increase in fixed
overhead.

Following preparatory work undertaken by Manplas prior to completion, the
Group expects to retain a significant proportion of AAC Cyroma's former
customer base. The transaction is expected to result in the retention of
between £1.6 million and £2.0 million of annualised revenue, which will be
absorbed into Manplas' existing operations.

The acquired plant and machinery enhance Manplas' current manufacturing
capability and accelerate its planned capital upgrade programme, particularly
across vacuum forming and CNC machining. In addition, the assets provide
incremental injection moulding capacity, which is expected to support the
wider Group, including Tatra Rotalac Ltd.

Based on the commitments made by AAC Cyroma customers, the Board expects the
acquisition to be earnings enhancing in the current financial year following a
short integration. The transaction is consistent with the Group's strategy of
selectively acquiring complementary assets at attractive valuations where they
strengthen existing operations and improve asset utilisation.

Ian Hillman, Chief Executive Officer of Coral Products Plc, commented:

"AAC Cyroma has been a long-established competitor within our core markets.
This transaction provides a timely opportunity to support the continued
development of Manplas by adding incremental revenue into an existing
operational platform with available capacity. The acquisition of the plant and
machinery also accelerates planned investment and enhances flexibility across
the wider Group."

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the
European Union (Withdrawal) Act 2018 ("UK MAR"). The Directors of the Company
take responsibility for this announcement.

For further information, please contact:

 Enquiries:                                                           www.coralproducts.com          Tel:

 Coral Products plc                                                   Group Chief Executive Officer  0161 507 9302

 Ian Hillman

 Coral Products plc                                                   Non-Executive Chairman         0161 507 9302

 David Low

 Cairn Financial Advisers LLP                                         NOMAD and Broker               020 7213 0880

 Sandy Jamieson / Ludovico Lazzaretti

 

Caution regarding forward looking statements

This announcement contains unaudited information and forward-looking
statements that are based on current expectations or beliefs, as well as
assumptions about future events. These forward-looking statements can be
identified by the fact that they do not relate only to historical or current
facts and undue reliance should not be placed on any such statement because
they speak only as at the date of this document and are subject to known and
unknown risks and uncertainties and can be affected by other factors that
could cause actual results, and Coral's plans and objectives, to differ
materially from those expressed or implied in the forward-looking statements.
Coral undertakes no obligation to revise or update any forward-looking
statement contained within this announcement, regardless of whether those
statements are affected because of new information, future events or
otherwise, save as required by law and regulations.

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