Fibrestar and Harcostar Acquired in MBO
13 July 2007

Bulk Packaging Group BV, comprising Fibrestar Drums Limited and Harcostar Drums Limited,
has been acquired by the management. Bulk Packaging Group announced that AlpInvest
Holding NV has agreed to sell its majority stake to the existing senior management team.

The buy out is supported by funding from Lloyds TSB Commercial Finance.

Respectively, Fibrestar and Harcostar are the leading UK producers of fibre and large blow
moulded plastic drums for industrial packaging applications. In addition, Harcostar also has
a strong brand presence in the garden products retail sector, through its water storage
containers and composters and also manufactures technical mouldings. The two businesses,
with a combined annual sales turnover of £25m, operate alongside each other on a
5 hectare site at Disley in Cheshire, where they employ a total of 220 people.

The Group was formed in March 2000 as a management buy in vehicle to acquire the Bulk
Packaging division of Rexam PLC, using finance provided by Alpinvest Holding NV. Alpinvest
took the decision to sell following the successful consolidation of the two drum businesses on
its Disley site after Harcostar was relocated from Huntingdon.

The MBO team is led by Chairman Tony Starsiak, General Manager Colin Pardoe and Chief
Financial Officer Steve Hornby. They are supported by Technical Director Phillip Wallis,
Operations Director Mathew Look and European Sales Manager Mark Blythe.

Commenting on the deal, Tony Starsiak said, “We are extremely pleased to be given the
opportunity to acquire the two businesses and feel that, under the new ownership
arrangements, we can further develop their leading market positions. As a management
team, we have a wealth of experience in the industry and we’ve been successfully directing
the companies for many years. We will be building on all that is good about the Fibrestar and
Harcostar brand names and the values they represent.”

Going forward, the management will focus on a strategy of developing and broadening the
product portfolio, whilst reinforcing a steadfast commitment to the highest standards of
quality, customer services and technical support, together with investment to boost
manufacturing capabilities.

Enquiries:

Jim Chadderton, +44 (0) 7715 371225
Marketing Consultant