reuters british plastic packaging supplier rpc group plc said it would buy icelandbased plastic products maker promens group as for 386 million euros 305.51 million pounds to strengthen its position in europe and help satisfy its increasing need for polymer.rpc said it would raise about 200 million pounds through a fully underwritten 1for3 rights issue at 320 pence each to partly fund the deal.the company, whose business includes making packaging for nivea creams and nescafe coffee capsules, said the balance would be funded by increasing its revolving credit facility to 490 million pounds from 350 million.rpc shares rose 1.9 percent to 554.4 pence in early trading on thursday.privately owned promens has 40 plants, including 35 in europe. rpc said the icelandic company&39s operations in china and in other emerging markets would also help it reinforce its presence beyond europe.rpc made a big push into asia earlier this year by acquiring hong kongbased ace corp holdings ltd, gaining access to five manufacturing plants in china.last december, rpc acquired ukbased maynard and harris, whose clients included cosmetic giants l&39oreal and estee lauder, and consumer food packaging maker helioplast, extending its reach in southeast europe.the latest deal, which is expected to close by the end of march, values promens at 6.8 times 2013 ebitda before nonrecurring items of 57 million euros.rpc also reported a 12 percent jump in revenue to 588.9 million pounds for the six months ended sept. 30, boosted largely by its acquisitions.excluding acquisitions, revenue rose 4 percent.adjusted pretax profit rose 32.6 percent to 54.9 million pounds.reporting by esha vaish in bangalore editing by ted kerr
