Klockner Pentaplast to Acquire LINPAC Group
MONTABAUR, Germany, Apr 07, 2017 (BUSINESS WIRE) --
Copyright Business Wire 2017
--Together, with about 6,300 employees across 32 locations in 16 countries, the two companies will form a one-stop-shop providing complete packaging solutions to customers worldwide
The Klockner Pentaplast Group ("KP"), a global leader in rigid plastic
film and packaging solutions, today announces 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
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
The combination of KP's world class film production with LINPAC's highly
innovative film production and conversion capabilities will create a
one-stop-shop providing complete packaging solutions to customers. The
acquisition of LINPAC will further strengthen KP's customer-centric
business approach, a key pillar of the company's strategy.
The acquisition will also enable KP to expand its technological
capabilities further into the rigid and flexible film market. This
market benefits heavily from megatrends including customers' desire for
healthy and safe food with an extended shelf life.
By bringing together two of the most innovative firms in the film and
packaging industry, KP would create a true R&D powerhouse. By leveraging
KP's and LINPAC's combined and diverse customer universe, KP will be
able to develop products, solutions and design capabilities that are
tailor-made to address customer needs and will unlock further growth
The combined company will have an extended reach and portfolio breadth,
as well as a broader customer base. Together, KP and LINPAC will have 32
locations across 16 countries with about 6,300 employees. KP's existing
global footprint with operations on six continents will greatly
accelerate LINPAC's geographic expansion ambitions, particularly in the
The consolidated group will be led by Wayne Hewett. Daniel Dayan will
lead the Food portfolio.
The transaction is subject to approval by certain regulatory
authorities, as well as information processes with employee
representatives in certain jurisdictions. It is expected to close in the
summer of 2017.
Kirkland & Ellis International LLP are serving as legal advisor to KP.
Linklaters LLP are serving as legal advisor to LINPAC and its investors
and Mishcon de Reya LLP are serving as legal advisor to LINPAC
About Klockner Pentaplast
The Klockner Pentaplast Group is a global leader in providing packaging,
printing, and specialty solutions serving the pharmaceutical, medical
device, food, beverage, and card markets, among others. With a broad
portfolio of rigid plastic films and services powered by innovation,
Klockner Pentaplast plays an integral role in the customer value chain
by marketing and protecting product integrity, safety, consumer health,
and, ultimately, brand reputation. Klockner Pentaplast has operations in
13 countries with 19 production sites. Within the last fiscal year, the
company had sales of $1.4 billion and currently employs over 3,600
people committed to serving customers worldwide. For more information,
visit our website at wwwkpfilms.com.
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SOURCE: The Klockner Pentaplast Group ("KP")