MONTABAUR, Germany—The Klockner Pentaplast Group, a global leader in rigid plastic film and packaging solutions, today announced it has signed a binding agreement to acquire LINPAC Senior Holdings Ltd. and its direct and indirect subsidiaries, an important film producer and converter for food packaging in Europe. Financial terms of the transaction were not disclosed. The Klockner Pentaplast LINPAC acquisition will create a global leader in the rigid and flexible film market, with combined annual revenues exceeding $2 billion.
Wayne M. Hewett, Klockner’s CEO, said of the Klockner Pentaplast LINPAC acquisition, “This is a highly complementary acquisition that will help Klockner Pentaplast 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. Klockner Pentaplast 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 Klockner Pentaplast 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 combination of Klockner Pentaplast’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 Klockner Pentaplast’s customer centric business approach, a key pillar of the company’s strategy.
The acquisition will also enable Klockner Pentaplast 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, Klockner Pentaplast would create a true R&D powerhouse. By leveraging Klockner Pentaplast’s and LINPAC’s combined and diverse customer universe, Klockner Pentaplast will be able to develop products, solutions and design capabilities that are tailor made to address customer needs and will unlock further growth potential.
The combined company resulting from the Klockner Pentaplast LINPAC acquisition will have an extended reach and portfolio breadth, as well as a broader customer base. Together, Klockner Pentaplast and LINPAC will have 32 locations across 16 countries with about 6,300 employees. Klockner Pentaplast’s existing global footprint with operations on six continents will greatly accelerate LINPAC’s geographic expansion ambitions, particularly in the Americas.