Klöckner Pentaplast completes acquisition of LINPAC Group
The Klöckner Pentaplast Group (“kp”), 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 7 April 2017. The relevant regulatory authorities have approved the transaction and the information processes with employee representatives in certain jurisdictions have been conducted.
Kirkland & Ellis International LLP are serving as legal advisor to Klöckner Pentaplast. Linklaters LLP are serving as legal advisor to LINPAC and its investors and Mishcon de Reya LLP are serving as legal advisor to LINPAC management.
About Klöckner Pentaplast
Focused on delivering its vision: The Sustainable
Protection of Everyday Needs, kp is a global leader in rigid and flexible packaging, and specialty film
solutions, serving the pharmaceutical, medical device, protein markets, amongst
others. With a broad and innovative portfolio of packaging and product films
and services, kp plays an integral role in the customer value chain by
safeguarding product integrity, protecting brand reputation and improving
sustainability. kp’s “Investing in Better” sustainability strategy
solidifies its commitment to achieving ten clear targets
for long-term improvement by increasing recycling and recyclability of products, cutting
carbon emissions and continuous improvement in employee engagement, safety, and
diversity, equity and inclusion. kp has earned a gold rating from EcoVadis, the
leading platform for environmental, social, and ethical performance ratings,
putting kp in the top 3% of companies rated in the manufacturing of plastics
products sector. Founded in 1965 kp has 31 plants in 18 countries and employs
over 5,900 people committed to serving customers worldwide in over 60 locations.
Group Director, Global Communications
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