Financed by GE Capital, the deal will secure all 221 jobs at the 13-acre Bath site, which specialises in paper bag manufacture.
Welton Bibby & Baron managing director Malcolm Ross headed the four-man MBO team, which also included sales and marketing director Nick Tomkins, operations director Jamie Goudie, and Bibby & Baron sales and marketing director Stuart Andrews.
Tomkins said the team is looking to expand and grow the business, including enlarging its workforce.
Welton Bibby & Baron had sales of 20.7m last year, and made a 900,000 operating profit.
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"Gosh! That’s a huge debt - especially HMRC! It’s a shock that HMRC allowed such an amount to be accumulated."
"Whatever happened to the good old fashioned cash job! At least the banks didn't take 2-3% of each sale. After 30 odd transactions that £100 quid you had has gone."
"It's amazing what can be found on the "web" nowadays!"
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