Klöckner Pentaplast acquires Linpac

Packaging Solutions

The Klöckner Pentaplast Group has announced that it has signed a binding agreement to acquire Linpac Senior Holdings Limited and its direct and indirect subsidiaries. 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.’

Daniel Dayan, CEO of Linpac, said: ‘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 acquisition will enable KP to expand its technological capabilities further into the rigid and flexible film market.

Together, KP and Linpac will have 32 locations across 16 countries with about 6300 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.