MONTABAUR, Germany--(BUSINESS WIRE)--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
The Klöckner Pentaplast Group is a global leader in rigid and flexible packaging, printing and specialty solutions, serving the pharmaceutical, medical device, food, beverage and card markets, among others. Through the acquisition of LINPAC, an international market leader in the production of primary fresh food packaging and food service solutions, kp expands its capabilities, providing multi-material technology and offering a wide range of flexible films, from complex multilayer barrier films to simple monolayer structures.
With a broad portfolio of packaging, films and services powered by innovation, Klöckner Pentaplast plays an integral role in the customer value chain by marketing and protecting product integrity, safety, consumer health and brand reputation. Klöckner Pentaplast has operations in 18 countries and employs over 6,300 people across 32 locations committed to serving customers worldwide. For more information, visit www.kpfilms.com.