Companies combine to create 6th largest plastic packaging company
By Canadian Packaging StaffGeneral Britton Group Exopack Exopack Holdings Sarl Inc. Kobusch largest plastic packaging company PACCOR Paragon Print & Packaging plastic packaging Sun Capital Partners
Plastics packaging companies in Europe and North America now under one banner as global packaging leader.
Five leading packaging companies in North America and Europe today announced they intend to combine in order to operate as one global leader under the banner of Exopack Holdings Sarl, a new Luxembourg company now with 63 plants, 8,650 employees and aggregate revenues of more than US$2.5B, making it the sixth-largest plastics packaging company in the world.
The combining companies are:
- Exopack, a Matthews, North Carolina, U.S.-based producer of flexible paper and plastic packaging, and advanced coatings;
- Britton Group, a Cheshire, U.K.-based flexible plastic packaging manufacturer;
- PACCOR, is based in Germany and is the second-largest rigid plastic packaging company in Europe;
- Kobusch, a Warburg, Germany-based producer of tailor-made flexible and rigid packaging systems, and;
- Paragon Print & Packaging, a leader in private label packaging solutions in the UK.
All five packaging companies are affiliated portfolio companies of Sun Capital Partners, Inc. The brand names of the five businesses would remain in use by the Exopack Holdings Sarl.
The new company’s management team has over 100 years of experience in the packaging industry: chief executive Jack Knott; chief financial officer Mike Alger; chief executive officer of PACCOR’s global rigid business Dieter Bergner; chief executive officer of the global flexibles Michael Cronin.
“By joining together to form this new entity, we will be better able to serve the needs of our global customers through a manufacturing base spanning North America, Europe, the Middle East and China that enhances our ability to deliver outstanding service,” says Knott. “The larger scale will enable us to accelerate the development and commercialization of new and differentiated products that offer our customers a competitive advantage.”
The combination is subject to certain notice and contractual restrictions, and in particular requires the consent of certain lenders to the packaging companies. It is anticipated that all required consents will be obtained within two weeks.