Flexpol produces transparent BOPP film, which includes heat sealable properties with an antifog effect on both sides
CCL Industries has agreed to acquire Polish BOPP film producer Flexpol. (Credit: Adam Radosavljevic /Pixabay)
CCL Industries has entered into a binding agreement to acquire Polish biaxially oriented polypropylene (BOPP) film producer Flexpol in a deal valued at around $22m.
Flexpol was established in 1996 by Petrochemia Płock. The company claims to have gained a significant presence in the BOPP film market since its inception.
According to the Polish firm, polypropylene products have now replaced a traditional paper to manufacture a range of modern soft packaging.
The product portfolio of Flexpol
The company produces transparent BOPP film, which includes heat sealable properties with an antifog effect on both sides.
Flexpol also manufactures plain transparent BOPP film without sealable layers for general purposes, as well as transparent BOPP film without sealing layers for self-adhesive tapes.
The firm also manufactures metallised BOPP film, pearlised-white BOPP film for labels and pearlised-white BOPP film with heat sealable properties on both sides.
Flexpol mainly focuses on providing flexible packaging solutions to its customers. In 2019, Flexpol generated sales of around $70m, with an adjusted EBITDA of $3.7m.
Subject to regulatory approvals, the deal is expected to be completed in the first quarter of this year. Upon completion of the transaction, the new business will operate as Innovia Poland.
CCL president and CEO Geoffrey Martin said: “This operation brings us new capability to deliver label films in Europe using the same technology we have in place at Innovia Mexico for the Americas complementing existing product offerings from Innovia’s UK operations.
“The plant is in very good condition with state-of-the-art equipment in a low cost location. We expect to significantly improve profitability by 2021 as product mix changes. The acquired operation will report directly to Guenther Birkner who heads Innovia globally alongside CCL’s Food & Beverage and Healthcare & Specialty label businesses.”
CCL Industries is a provider of speciality label, security and packaging solutions for global corporations, government institutions, small businesses and consumers.
In July 2018, CCL Industries completed the acquisition of Treofan America and Trespaphan Mexico Holdings from their parent firm M&C for around $255m.