Filtrona wraps up £160m deal

Reckitt Benckiser's former finance director Colin Day has wasted little time in his new role as the chief executive of plastic products supplier Filtrona.

He acquired the pharmaceutical packaging business Contego Healthcare for £160m, financing the deal through a placing which increased its equity by nearly a tenth and raised £143m gross.

Contego makes everything from cardboard packaging for medicines to the printed foil over blister packs of pills. Filtrona expects the deal to boost its earnings immediately.