India-based B.C. Jindal Group has completed the acquisition of Treofan Holdings, Germany (Treofan Europe) for an undisclosed sum.
Treofan Europe is engaged in the manufacturing of biaxially oriented propylene films (BOPP films) for packaging, label, tobacco and technical applications in Europe.
The acquired business will allow Jindal to expand its presence in the industry, and provide an expanded product range to the customers.
Jindal Films Europe CEO Manfred Kaufmann said: “I am looking forward to joining forces. The combined experience and knowledge of the two teams will further strengthen the group.
“Merging both businesses will allow us to accelerate the group’s growth and to become the most innovative solution provider for recyclable packaging.”
Treofan is specialized in providing BOPP solutions to the FMCG brand manufactures and their converters, as well as the tobacco and electrical industries.
The company has three production sites in Germany and Italy, and supplies advanced film products, and tailor-made intelligent solutions in over 90 countries.
Treofan Europe general counsel Boris Trautmann said: “Today is a remarkable moment for Treofan Europe. We welcome the opportunity to work together with Jindal Films. I see great prospect for our company and customers.”
In March this year, CCL Industries agreed to acquire Treofan America and Trespaphan Mexico from their parent firm M&C in a deal worth $225m.
Treofan Americas, which produces BOPP films, has a production capacity of 60,000 tons for specialty applications in consumer packaging and label markets.
Jindal Films, part of B.C. Jindal Group, is involved in the development and manufacturing of specialty packaging and labeling film solutions such as multilayer white opaque films, metalized films and coated films for flexible packaging and labeling applications.
The company has affiliated production plants in Virton of Belgium, Kerkrade of Netherlands and Brindisi and Italy, as well as LaGrange of Georgia and Shawnee of Oklahoma in the US.
Jindal Films and its affiliates also manage sales offices to meet the customer requirements in countries across the globe, including North America, Europe and Asia.