Paccor Packaging, which mainly serves the food sector, is said to deliver advanced solutions in yoghurt, spreads and ice cream packaging
Paccor provides protective packaging solutions for the customers in the dairy sector. (Credit: Squirrel_photos from Pixabay)
Sustainable food packaging solutions provider Faerch Group has agreed to acquire Germany-based Paccor Packaging from private equity firm Lindsay Goldberg for an undisclosed sum.
Based in Düsseldorf, Paccor offers a range of advanced packaging solutions for customers in the food industry.
The company, which mainly provides protective packaging for the dairy sector, is said to deliver advanced solutions in yoghurt, spreads and ice cream packaging.
Paccor CEO Andreas Schütte said: “Faerch’s unique integrated recycling capabilities offer fully new opportunities to accelerate the transition towards circular packaging solutions, while combining the two companies’ dedication to innovation and investments in R&D.”
Established in 2011, Paccor has a presence in 18 countries and its geographical footprint complements the pan-European presence of Faerch.
Under the deal, Faerch will acquire 16 production sites in Europe, Asia and the US, as well as more than 3,400 employees.
Upon the completion of the deal, Faerch Group will have 34 sites and employ around 6,000 people around the world.
Faerch said that the acquisition of Paccor is a significant step in the execution of its long-term growth plan and advancing the industry’s transition towards circular packaging solutions.
Faerch Group CEO Lars Gade Hansen said: “With Paccor’s strong position in the dairy sector, our complementary geographical footprints and our shared ambition to make food packaging circular, Paccor is the perfect match for Faerch.
“We have always respected Paccor for their dedication to quality, innovation and customer service, and we are delighted to now join forces with the excellent Paccor team.”
The deal is subject to customary closing conditions and regulatory approval. The Paccor’s UK operations, including two production sites, are not included in the deal and will continue with Lindsay Goldberg.
Credit Suisse, Plesner Law Firm, EY, Skadden Law Firm and COWI have advised the Faerch Group on the deal.
In July last year, Faerch Group acquired co-extruded thermoplastic packaging solutions provider MCP Performance Plastic.