Image: Nordfolien
RPC_Nordfolien
An example of Nordfolien's flexible offerings.
RPC Group has announced the acquisition of Nordfolien GmBH for €75 million (approx.. £65.8m GBP).
The latest addition to British-based RPC’s portfolio will strengthen its flexibles offering, with Nordfolien a leading player in the design and manufacture of higher added value polythene films for both industrial and consumer packaging markets.
RPC says following the successful acquisition and transformation of the RPC bpi group, which is now generating a return on capital employed (ROCE) in excess of 15 per cent, the acquisition of Nordfolien represents “an important next step” in growing the Group’s flexibles platform.
Nordfolien has two well-invested sites in Germany and Poland, including in-house recycling capabilities, and has developed, patented and commercialised a number of innovative, market leading products.
The acquisition will augment bpi group’s market positions in Europe, as well as providing access to higher growth geographies including Eastern Europe, which the company says will improve its ability to “follow its international customers” through Continental Europe.
“I am delighted to welcome Nordfolien to the RPC Group. The acquisition will significantly enhance our growth platform in flexibles whilst adding further innovation capability in an attractive market segment,” commented Pim Vervaat, RPC Chief Executive.
“Participation in the ongoing consolidation of the European plastic packaging industry remains a core part of RPC's strategy, and through our focus on innovation, sustainability and operating in attractive end markets, we remain confident in continuing to grow organically through the cycle ahead of GDP."
The Nordfolien management team will continue to operate the business from its current locations, and Nordfolien will become integrated in the RPC bpi group as its fifth business unit.
Completion of the acquisition is subject to clearance from the Polish and German competition authorities, and is expected be completed at the latest by the end of September 2018.