Nampak sells Nampak Plastics Europe business to Bellcave
Nampak has announced that it has entered into an agreement for the sale of Nampak Plastics Europe to Bellcave, for an undisclosed amount.
Nampak Plastics Europe was designated as an asset held for sale on 28th August 2019 and an accelerated disposal process was initiated.
Indicative offers were received in September 2019, and a final agreement was signed on 12th December with Bellcave.
André de Ruyter, CEO of Nampak, said: “The sale of NPE is in line with Nampak’s ongoing strategy to sharpen our focus on strategic substrates.”
“We continue to rationalise the portfolio to optimise and improve f=returns on capital and reinforce our strategic intent.”