German firm Klöckner Pentaplast (KP) has agreed to acquire UK-based Linpac Senior Holdings and its direct and indirect subsidiaries for an undisclosed sum.
Linpac, a film producer and converter for food packaging in Europe, will enable KP to expand its presence in the rigid and flexible film market.
With a wider product portfolio and customer base, the combined firm will include 32 locations across 16 countries with around 6,300 employees.
The deal allows to combine KP’s and Linpac’s advanced film production and conversion capabilities, helping to provide complete packaging solutions for the customers.
Linpac’s acquisition will also help KP to advance its technological capabilities for the rigid and flexible film products.
The combined firm will generate revenues of around $2bn per annum.
Subject to approval by certain regulatory authorities, the deal is expected to complete in the summer of this year.
Wayne Hewett will be the head of the consolidated group, while Dayan will manage the food portfolio.
Klöckner Pentaplast CEO Wayne Hewett will be the head of the consolidated group, while Dayan will manage the food portfolio.
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.”
Dayan said: “Merging these two market leaders into one company will create strong opportunities for all involved and we look forward to working together.”
Klöckner Pentaplast offers packaging, printing, and specialty solutions for the pharmaceutical, medical device, food, beverage, and card markets.
Image: Klöckner Pentaplast to acquire UK-based Linpac. Photo: courtesy of Stuart Miles / FreeDigitalPhotos.net.