Devro, the Moodiesburn-based sausage skin maker, has agreed to a takeover by a company owned by one of Germany's richest families.
The Scottish manufacturer, which employs around 2,000, announced details of the move by German giant Saria, part of the Rethmann family empire, this morning., said the enterprise value was £667 million.
Steve Good, chairman of Devro, said: "We believe that Saria's understanding of our markets, its strong financial position and the cultural fit will benefit the group's business and employees. As a result, the Devro directors have agreed unanimously to recommend that Devro's shareholders accept the offer from Saria."
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