Boxmore International has announced the acquisition of Munier Cartonnage, a French pharmaceutical packaging business, for a maximum consideration of £4.2 million sterling (£5 million).

Munier, which prints, manufactures and distributes carton-board packaging to the pharmaceutical and healthcare sectors, is based in Lisses, near Paris, where it employs 85 people.

Boxmore will pay a maximum of 42.5 million French francs or around £4.17 million sterling for the company. Under the terms of the agreement, Boxmore will pay an initial £3.73 million in cash, which will be satisfied out of the Northern Irish-based company's existing resources.

An additional deferred consideration of up to £440,000 may also be payable if Munier achieves certain performance criteria.

Munier made a pre-tax profit of around £410,000 sterling on turnover of £6.42 million in the year ended December 31st, 1997. It had net assets of £1.26 million.