Acquisition will form a one-stop-shop providing complete packaging solutions to customers worldwide
Both companies specialise in plastic films and the new deal locks into new customer interest in food with a longer shelf life
The Klockner Pentaplast Group (KP), global rigid plastic film and packaging company, has signed a binding agreement to acquire Linpac Senior Holdings, European film producer and converter for food packaging.
Wayne Hewett, CEO of KP, said: “This will help KP expand technological capabilities into the food industry and the rigid and flexible film market; as well as further develop our offerings in end markets, such as pharmaceuticals, food, beverage, consumer and industrial products.”
This market benefits heavily from megatrends including customers’ desire for healthy and safe food with an extended shelf life.
Daniel Dayan, CEO of Linpac, said: “This transaction will significantly accelerate Linpac’s geographic expansion. Merging these two market leaders into one company will create strong opportunities for all involved.”
Together, KP and Linpac will have 32 locations across 16 countries with about 6,300 employees. KP has existing global footprint with operations on six continents, which expands Linpac particularly into the Americas.