TOPPAN Holdings Inc. (TOPPAN Holdings), subsidiary of TOPPAN Speciality Films Private Limited (TSF), based in India, has entered into a definitive agreement to acquire 80% of the issued shares of Irplast S.p.A. (Irplast), an Italian based high-performance BOPP film manufacturer, from the current majority shareholder, British-based investment fund Cheyne Strategic Value Credit (SVC).

Irplast is a leading manufacturer of high-performance BOPP films, using simultaneous biaxial orientation technology to offer superior transparency, durability, and processability, contributing to reduced environmental impact and improved recyclability. These products can be widely used in various fields, including packaging and labels for food, personal and home care.

Leveraging its extensive experience and technological expertise in the printing and packaging sectors, the TOPPAN Group will integrate Irplast's advanced manufacturing technologies for high-performance BOPP films to develop and deliver innovative solutions that meet various customer needs. Furthermore, this acquisition aligns with the TOPPAN Group's strategic goals of realizing a sustainable society.

“This acquisition represents a significant step forward in TOPPAN's business growth and technological innovation in the film business. By incorporating the advanced technologies and expertise of Irplast, we are confident that we can further enhance our sustainable solutions,” said Hiroshi Suzuki, Executive Officer of the TOPPAN Group leading the global film business. “TOPPAN remains committed to contributing to society through the pursuit of sustainable value creation and customer satisfaction.”