Klöckner Pentaplast completes Linpac Group acquisition
The Klöckner Pentaplast Group (“kp”, kpfilms.com), announces the successful completion of 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 $2 billion. The combined group will provide complete packaging solutions to customers and, as one of the most innovative firms in the film and packaging industry, be a true R&D powerhouse. Klöckner Pentaplast 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 April 7, 2017. The relevant regulatory authorities have approved the transaction and the information processes with employee representatives in certain jurisdictions have been conducted.