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The Klöckner Pentaplast Group has announced it is to acquire the LINPAC Group
The Klöckner Pentaplast Group, a leader in rigid plastic film and packaging solutions, has announced it is to acquire the LINPAC Group and subsidiaries for an undisclosed sum.
The transaction will create a global leader in the rigid and flexible film market, with combined annual revenues exceeding $2 billion (approx. £1.6 billion GBP).
Wayne M. Hewett, CEO of Klöckner Pentaplast, said: “This is a highly complementary acquisition that will help Klöckner Pentaplast 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. KP will be enriched by LINPAC’s innovations, adjacent products and know-how. We are excited about the new opportunities that lie ahead of us.”
Daniel Dayan, CEO of LINPAC, added:“We are excited to join forces with KP and believe this transaction will significantly accelerate LINPAC’s geographic expansion. Merging these two market leaders into one company will create strong opportunities for all involved and we look forward to working together."
The combination of Klöckner Pentaplast’s film production with LINPAC’s film production and conversion capabilities will create a ‘one-stop-shop’ that they say will provide “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.
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.
The consolidated group will be led by Wayne M. Hewett. Daniel Dayan will lead the Food portfolio.