The acquisition of Sirap food packaging will enable Faerch to advance its circularity agenda and implement sustainability strategy across Europe
Denmark-based food packaging solutions provider Faerch has acquired Sirap food packaging business in Italy, Poland and Spain from Italmobiliare for an undisclosed sum.
The acquisition of Sirap food packaging business will enable Faerch to expand its geographic presence, as well as provide customers with direct access to Faerch’s advanced packaging solutions.
The acquired business will also help Faerch to strengthen its Pan-European operations, in addition to boosting its circularity agenda and implementation of sustainability strategy across Europe.
Details of acquisition
Under the deal, Faerch has acquired Sirap’s three production sites in Italy, one in Poland, one in Spain. The transaction also includes the transfer of up to 1,000 employees.
Established in 1960, Sirap Group is the specialist packaging subsidiary of Italmobiliare. The deal does not cover Sirap businesses in the UK, Germany and France, as well as Austrian-based trading business Petruzalek.
Faerch Group CEO Gade Hansen said: “We have been analysing the Italian market thoroughly over the last few years and are convinced that Sirap’s food packaging business represents a perfect fit for Faerch. Our local customers will benefit from an extended product range and our innovative circular packaging solutions.
“The Polish business perfectly complements our activities in Central Europe and allows us to even better serve our customers in Poland and adjacent countries locally from the modern Inline site.”
In October 2019, Faerch introduced a new packaging solution made from 100% recycled content for the protein sector.
Based in Holstebro, the company offers sustainable food packaging solutions for the customers in the ready meals, protein, food-to-go and dairy segments. The firm is said to recycle food trays back into new food-grade products at industrial scale.