BOXMORE International, the Northern Irish-based packaging group, has acquired a 51 per cent stake in Derndruck Verpackungen, a German firm which supplies printed cartons to the pharmaceutical and health care sector in Germany.

Boxmore will pay a maximum of 1.9 million deutschmarks (€972,000) for the stake. An initial consideration of around €175,000 is payable in cash and this will be satisfied out of Boxmore's existing resources.

After a period of five years, Boxmore has an option to acquire the remaining 49 per cent shareholding for a maximum consideration of £950,000 (€1.2 million).

The German firm reported profits before tax and exceptional charges of around £188,000 on sales of £5 million last year.