Südpack Verpackungen, a German company providing flexible packaging products, has acquired Seville Flexpack, based in Wisconsin, as part of its strategy to strengthen its position in the US.
The acquisition provides Südpack Verpackungen its first manufacturing operations in the US.
Seville became part of the Südpack Group on October 1. All employees of Seville will be retained and Südpack will continue to serve Seville’s clients. Seville has two manufacturing sites near its Oak Creek headquarters.
Seville Flexpack is a family-owned business. It is a converter and provider of flexible packaging products and has over 40 years of experience in printing and processing.
Prior to the acquisition, Südpack only had a sales office in the Chicago area in the US. The company will take up processing steps, including printing and refining, for the US market at the new facility in Oak Creek, resulting in quicker delivery and greater flexibility.
Südpack, a specialist in lid films, hard/soft films and bags, has 35 sales offices and production facilities in Germany, France, Poland and Switzerland.
TKO Miller, a Milwaukee-based investment bank, advised Seville in this transaction.
Seville was put up for sale earlier this year following protracted fighting between the heirs of Seville’s founder, Walter J Yakich, who died in June 2014. Eight months ago, Yakich’s children decided to sell the converter. They hired TKO Miller to handle the transaction.
Südpack managing partner Johannes Remmele said: “We’d been looking for a suitable candidate for our US business for quite some time, and we’re very pleased to have found the right partner in Seville Flexpack in Oak Creek.”
“The site is ideal in a number of ways: the facilities offer modern equipment for flexographic and rotogravure printing, sufficient storage capacity, and most importantly: highly experienced employees. In addition, it’s located at the heart of the US meat and cheese industry – two key customer segments for our packaging solutions. Taken together, it’s the perfect fit for our corporate group,” Remmele added.