Klöckner Pentaplast completes purchase of LINPAC Group
By Canadian Packaging staff
General Corrugated Film Paperboard Packaging acquisition of film producer and converter Klöckner Pentaplast Group LINPAC Senior Holdings Limited plastic film productsAcquisition to create a global leader in the rigid and flexible film market, with combined annual revenues exceeding US$2 billion
Montabaur, Germany—The Klöckner Pentaplast Group (KP), has completed the acquisition of LINPAC Senior Holdings Limited and its direct and indirect subsidiaries. LINPAC is a prominent film producer and converter for food packaging in Europe.
The transaction creates a worldwide leader in the rigid and flexible film market, with annual revenues exceeding $2 billion. The combined group will provide complete packaging solutions to customers and, as one of the most innovative firms in the film and packaging industry, be a true R&D powerhouse. Klöckner Pentaplast will continue to be led by Wayne M. Hewett. Daniel Dayan, former chief executive officer of LINPAC, will lead KP’s food and consumer packaging division.
The closing completes the transaction agreed to and announced here on this website back on April 7, 2017. The relevant regulatory authorities have approved the transaction and the information processes with employee representatives in certain jurisdictions have been conducted.
Strategic Rationale
The combination of KP’s world class film production with LINPAC’s highly innovative film production and conversion capabilities will create a one-stop-shop providing complete packaging solutions to customers. The acquisition of LINPAC will further strengthen KP’s customer-centric business approach, a key pillar of the company’s strategy.
The acquisition will also enable KP to expand its technological capabilities further into the rigid and flexible film market. This market benefits heavily from megatrends including customers’ desire for healthy and safe food with an extended shelf life.
By bringing together two of the most innovative firms in the film and packaging industry, KP would create a true R&D (research and development) powerhouse. By leveraging KP’s and LINPAC’s combined and diverse customer universe, KP will be able to develop products, solutions and design capabilities that are tailor-made to address customer needs and will unlock further growth potential.
The combined company will have an extended reach and portfolio breadth, as well as a broader customer base. Together, KP and LINPAC will have 32 locations across 16 countries with about 6,300 employees. KP’s existing global footprint with operations on six continents will greatly accelerate LINPAC’s geographic expansion ambitions, particularly in the Americas.
About Klöckner Pentaplast
The Klöckner Pentaplast Group is a global leader in providing packaging, printing, and specialty solutions serving the pharmaceutical, medical device, food, beverage, and card markets, among others. With a broad portfolio of rigid plastic films and services powered by innovation, Klöckner Pentaplast plays an integral role in the customer value chain by marketing and protecting product integrity, safety, consumer health, and, ultimately, brand reputation. Klöckner Pentaplast has operations in 13 countries with 19 production sites. Within the last fiscal year, the company had sales of US$1.4 billion and currently employs over 3,600 people committed to serving customers worldwide. For more information, visit www.kpfilms.com.
Image above purchased via www.fotolia.com.
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