Walki Group has agreed to acquire Finnish sustainable packaging material producer Plastiroll for an undisclosed sum.
Image: Walki has agreed to acquire Finnish sustainable packaging material producer Plastiroll. Photo: courtesy of rawpixel / Pixabay.
Under the deal, Walki will purchase 100% of the shares of Plastiroll from funds managed by Sponsor Capital and crucial personnel of the firm.
Established in 1983, Plastiroll is involved in the development and manufacturing of biodegradable and compostable materials for packaging applications.
Walki president and CEO Leif Frilund said: “With this transaction, we will significantly broaden our offering of sustainable packaging materials including compostable bags and films as well as recyclable dispersion coated fibre-based packaging.”
Plastiroll is a major European manufacturer of biodegradable bags and films, and has 20 years of experience in the development and production of compostable films.
The company, which markets its products under Bioska and Hauska brands, has also expertise in extrusion coating and printing capabilities.
With a turnover of €31m (£27.3), Plastiroll operates two manufacturing facilities in Ylöjärvi, near Tampere, Finland. Around 90 employees of Plastiroll will continue with the company to expand the business.
Plastiroll’s CEO Kari Laukkanen said: “With Walki, Plastiroll becomes part of a significant international packaging materials company. This will enable further international growth.”
Walki Group is engaged in the manufacturing of technical laminates and protective packaging materials.
The company is specialised in the production of fiber-based and intelligent multi-laminate products for diversified markets ranging from energy-saving facings and construction membranes to barrier packaging applications.
Walki operates production facilities in Finland, Germany, the Netherlands, Poland, the UK, Russia and China. With around 950 employees, the annual turnover of the group was €317m (£217m).
The company’s multilaminates can be used for the development of solutions for flexible packaging applications, as well as barrier board and lining materials for the solid case and corrugated industry.
The firm’s specialist barrier coated and laminated materials will be used for the protection of packed products, reduce waste and enhance functionality of the finished pack.
In addition, the firm produces specialist products such as wrappers for paper industry reels and printed wrappers for A4 and A3 cut size and folio reams.