Straight completes wheelie bin deal

The deal gives Leeds-based Straight its first branded wheelie bin.

Both companies expect to work together on the development of new products. The opportunity arose to buy the majority of Helesi's UK business after the Greek company decided to stop manufacturing in the UK and move to Northern Greece and Italy.

Straight bought Helesi's order book and certain assets, but not Helesi's warehouse in Bradford. Straight has supplied Helesi wheelie bins for some time and the brand name has a good reputation in the UK.

The company believes it can make better margins if one of its manufacturing partners makes the wheelie bins instead of buying them from Helesi.

Both brand names will continue and Straight is expected to use the tagline "Helesi wheelbins by Straight". It will pay an ongoing royalty to use the Helesi name.

Straight assumes Helesi's position supplying the UK and Irish markets as well as taking over existing customer contracts and supply agreements.

The 1.65m deal consisted of an initial 900,000, and the balance will be paid in ten monthly instalments.