Klöckner Pentaplast Group to acquire Linpac
Linpac is a film producer and converter for food packaging in Europe and the merger will create a ‘one-stop-shop’ for packaging led by Wayne Hewett, CEO, KP and Daniel Dayan CEO, Linpac, who will head up the food portfolio.
Broader customer base
The deal is expected to close in the summer of 2017.
“This is a highly complementary acquisition that will help KP expand its 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,” said Hewett.
The combined company will have an extended reach, portfolio and broader customer base, including 32 locations across 16 countries and approximately 6,300 employees.
KP’s existing global footprint with operations on six continents will accelerate Linpac’s geographic expansion ambitions, particularly in the Americas.
“We are excited to join forces with KP and believe this transaction will significantly accelerate Linpac’s geographic expansion,” added Dayan.
“Merging these two market leaders into one company will create strong opportunities for all involved and we look forward to working together.”
KP has operations in 13 countries with 19 production sites. Within the last fiscal year, the company had sales of $1.4bn and currently employs over 3,600 staff.