German packaging company Südpack has agreed to acquire Netherlands-based manufacturer LPF Flexible Packaging from the Clondalkin Group.
Founded in 1907, LPF is a manufacturer of flexible packaging for more than 40 different applications, supplying brands and companies primarily in the food and drink, confectionery, animal feed and agricultural sectors. Located in Grootegast, LPF specialises in high-barrier films for sensitive products.
The Dutch company’s key competencies include the development and production of printed and unprinted duplex and tri-plex packaging laminates, which provide protection and prolonged shelf lives to products. LPF has been a part of Clondalkin Group since 2005.
As part of the transaction, Südpack says it will gain LPF’s product capabilities, its R&D resources and machinery. The deal – which was made for an undisclosed sum – also marks a step in Südpack’s growth strategy.
Erik Bouts, CEO of Südpack, said: “We value LPF’s high level of development and market competence and plan to establish the site in Grootegast as a competence centre for high performance laminates over the long term within the Südpack Group.
“In doing so, we want to further expand Südpack’s expertise and performance portfolio in the development and production of high-performance laminates for various applications in order to serve attractive emerging markets and tap into new markets.”
Following the transaction, LPF’s workforce will become part of Südpack, while Südpack’s high-performance laminates production will continue as normal at its sites in Ochsenhausen and Bioggio in Switzerland.
Jacco Thijen, managing director of LPF, said: “LPF has made significant steps in growing its Flexo laminates business with the support of Egeria during the last four years. In Südpack, we have found a new partner who is willing to make further investments and impresses with their sustainable corporate governance and long-term growth strategy.”
The deal is expected to be completed by 1 February and the integration will take place immediately.
Last year, Südpack formed a joint venture with Indian packaging manufacturer Kamakshi Flexiprints, as it seeks to accelerate its growth internationally.
by Emma Upshall
Source: foodbev.com
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