The Klöckner Pentaplast Group (KP), Gordonsville, Va., signed a binding agreement to acquire LINPAC Senior Holdings Ltd., UK, and its direct and indirect subsidiaries.
“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,” says Wayne Hewett, chief executive officer of KP. “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.”
“We are excited to join forces with KP, and believe this transaction will significantly accelerate LINPAC’s geographic expansion,” adds Daniel Dayan, chief executive officer of LINPAC. “Merging these two market leaders into one company will create strong opportunities for all involved, and we look forward to working together.”
The combination of KP’s film production with LINPAC’s highly innovative film production and conversion capabilities will create a one-stop-shop of complete packaging solutions. The acquisition will also enable KP to further expand its technological capabilities into the rigid and flexible film market.
Together, KP and LINPAC will operate 32 locations across 16 countries with about 6,300 employees.