Faerch Plast has completed the acquisition of France-based CGL Pack from PSB Industries for an undisclosed sum.
Image: Faerch Plast has acquired CGL Pack’s two French manufacturing sites in Annecy and Lorient courtesy of Færch Plast A/S.
As part of the deal, Faerch Plast has acquired CGL Pack’s two French manufacturing sites in Annecy and Lorient, in addition to its headquarter in Annecy and associated commercial activities.
The deal is said to have happened eight months after private equity fund Advent International acquired Faerch Plast.
CGL Pack is engaged in the manufacturing of advanced packaging solutions for the food service industry, healthcare and consumer products.
The company produces custom food packaging solutions, including cap sealing and packaging in a protective atmosphere, for food industry clients.
CGL Pack also manufactures thermoformed packaging solutions, which offer protection and transports medical and pharmaceutical products.
The firm also manufactures various thermoformed packaging solutions for the perfume, cosmetics and wellness sector
Faerch Plast Group CEO Lars Gade Hansen said:”It has been a top priority to reinforce our presence in France by adding both local production foot-print and additional sales competences. We are very pleased, that we have now found the right company to include in the Faerch Plast Group.
“The acquisition provides the right footprint for further developing our French business. As a result of this, we expect significant growth in the region, and we have therefore already prepared significant investments within CGL Pack.”
Faerch Plast manufactures packaging solutions by using a range of materials such as PET, APET, PP, MAPET II and PP-EVOH-PE. It provides packaging solutions for ready meals, fresh meat and food to go products.
Recently, the UK waste re-processor Viridor and food packaging manufacturer Faerch Plast have collaborated with retailers Marks & Spencer (M&S), Tesco and Sainsbury to create circular economy for recycling black plastic.
The partnership is working on turning recycled black plastic into new food grade packaging in a project welcomed by Environment Secretary Michael Gove.