Following what has been described as a ‘short and efficient’ negotiation process, Termoplast S.r.L. has been acquired by Schur Flexibles Group in order to accelerate expansion in the Italian market.
Schur Flexibles acquires Termoplast
Specialising in recyclable films, Termoplast S.r.L. is well-known for sustainable film production throughout Europe. Its 100 per cent recyclable MDO-PE films offer excellent processing qualities for all printing technologies and special applications for industrial companies and as well as for food, medical and pharmaceutical sectors.
Termoplast also operates its own recycling company for the purpose of implementing its ‘zero waste’ strategy.
Schur Flexibles CEO Michael Schernthaner said: “Termoplast is a perfect fit for Schur Flexibles Group. Its entire production process is geared towards sustainability. It is truly a best practice example of the circular economy, whether with respect to innovations, its product portfolio, the recycling of post-industrial waste. We look forward to growing together in Italy as well as in our existing markets. Our joint portfolio of recyclable packaging solutions with excellent processing qualities, such as MDO-PE films, paves the way for sustainable packaging innovations in a real circular economy.”
Termoplast’s facility in Florence features a state-of-the-art and energy-efficient machinery park for manufacturing films. Its extensive product portfolio includes sustainable sealable, barrier and high-barrier films as well as peelable and reclosable films.
With around 100 employees, the family business, now being managed by a team of the second and third generations, reported annual revenue of approx. €50m in 2020, producing an average of about 28,000 tonnes of film material per year.
Schur Flexibles is acquiring 100 per cent of the shares in Termoplast S.r.L. In accordance with the Group’s integration strategy, the former owners and the third generation of the family will stay on board as managing directors to ensure continuity.