Transformational acquisition will create a global leader in the rigid and flexible film market, with combined annual revenues exceeding $2 billion
The Klöckner Pentaplast Group (“KP”), a global leader in rigid plastic film and packaging solutions, announced that it has signed a binding agreement to acquire LINPAC Senior Holdings Limited and its direct and indirect subsidiaries (“LINPAC”), an important film producer and converter for food packaging in Europe. Financial terms of the transaction were not disclosed.
The transaction will create a global leader in the rigid and flexible film market, with combined annual revenues exceeding $2 billion.
Wayne M. Hewett, CEO of KP, said, “This is a highly complementary acquisition that will help KP 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.”