Klöckner Pentaplast has completed the acquisition of Linpac Senior Holdings and its direct and indirect subsidiaries, creating a rigid and flexible film giant with annual revenues crossing $2bn.
Klöckner Pentaplast supplies films for pharmaceutical, medical devices, food, electronics, and general packaging.
Linpac is a film producer and converter for food packaging in Europe. The combined business will provide multiple packaging options to customers and have a strong R&D operation.
The combined business will offer several packaging options to customers and have a better R&D operation.
Wayne Hewett will continue to lead Klöckner Pentaplast. The food and The consumer packaging division of Klöckner Pentaplast will be led by Daniel Dayan, former CEO of Linpac.
When combined, the two companies are expected to have work force of about 6300 employees, spread across 32 locations in 16 countries.
Back in April, when the acquisition was announced, Klöckner Pentaplast CEO Wayne M. Hewett said: “This is a highly complementary acquisition that will help KP expand our technological capabilities and presence 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 and beverage, and consumer and industrial products.
“KP will be enriched by LINPAC’s innovations, adjacent products and know-how. We are excited about the new opportunities that lie ahead of us.”
LINPAC CEO Daniel Dayan said: “Merging these two market leaders into one company will create strong opportunities for all involved and we look forward to working together.”