The acquisition of MCP will allow Faerch to expand its geographical footprint beyond Europe and establish a presence in the US
Sustainable rigid packaging solutions provider Faerch Group has acquired co-extruded thermoplastic packaging solutions provider MCP Performance Plastic for an undisclosed sum.
MCP is involved in the manufacturing of turn-key packaging solutions to serve food producers, brand owners and retailers in the US, Middle East and Europe.
The firm mainly produces three types of barrier structures, crystallised PET (CPET), amorphous PET (APET) and polypropylene (PP), which are suitable to produce a range of food trays.
MCP’s trays are suitable for contents, which need deep freezing, refrigeration or heating and shelf-stable applications.
The company offers a dual-ovenable CPET tray, which can be used for heating in both a microwave and a conventional oven. It can tolerate temperatures from as low as -40°C to as high as +220°C.
With around 200 employees, the company manages two production sites in the US and Israel.
MCP CEO Natan Vilner said: “We are very much looking forward to joining forces with Faerch, allowing us to enhance our product offering further and support our customers on their journey towards sustainable food packaging.”
The acquisition of MCP will allow Faerch to expand its geographical footprint beyond Europe, in addition to creating a significant presence in the US market.
The deal is said to mark the first acquisition under Faerch’s new ownership by A.P. Moller Holding.
Faerch Group CEO Lars Gade Hansen said: “MCP will serve as a stepping stone for Faerch entering the important US market, which is estimated to account for USD 55 billion.
“Being local will allow us to support the retailers, brand owners and food manufacturers in making the right material choice for true circularity in the US food packaging market.”
Subject to customary closing conditions and regulatory approval, the deal is expected to be completed within three months.