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Klöckner Pentaplast acquires Linpac Group
Klöckner Pentaplast (KP) has completed the acquisition of Linpac Senior Holdings Limited and its direct and indirect subsidiaries. Linpac is a prominent film producer and converter for food packaging in Europe.
The transaction creates a worldwide leader in the rigid and flexible film market, with annual revenues exceeding US$2 billion. KP, a global leader in rigid and flexible packaging, printing and specialty solutions, serving the pharmaceutical, medical device, food, and beverage and card markets, among others , will continue to be led by Wayne M Hewett. Daniel Dayan, former CEO of Linpac, will lead KP’s food and consumer packaging division.
The closing completes the transaction agreed to and announced on 7 April 2017. The relevant regulatory authorities have approved the transaction and the information processes with employee representatives in certain jurisdictions have been conducted.
(PRA)
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