LINPAC GROUP
Acquisition of Italy´s Infia / Strategic move / One-stop shop for plastic packaging
In a move designed to create a one-stop shop for plastic packaging, Linpac Group (GB-Birmingham B37 7YN; www.linpac.com) has bought the privately-owned Italian company Infia (I-47032 Bertinoro; www.infia.it) for an undisclosed sum. Infia is a leading manufacturer of punnets and trays for soft fruit and will be integrated with the business of Linpac Plastics (GB-Knottingley WF11 0BL), where it will complement the company´s existing packaging activities in expanded polystyrene and film products.
“I see this as a key strategic move to enhance the positions of both Linpac and Infia as major international suppliers of plastic food packaging,” said Andrew Creese, managing director of Linpac Plastics. “Not only will Infia´s product range enable us to provide our customers throughout Europe with a wider choice, but I am particularly excited that we have acquired a leading expertise in the fruit and product sector,” he added.
Infia has sites near Bologna, northern Italy, and in Valencia, Spain, employing over 300 people. It was one of the first companies in Italy to use PET for fruit punnets and maintains a strong commitment to research into the use of new materials and equipment.
Infia president Alessandro Fornari said: “I am very pleased that we have been able to reach this agreement with Linpac Plastics. We are both market leaders in different segments of the European food packaging industry and together we have a tremendous future.”
Linpac Plastics has 25 factories worldwide with a staff in excess of 4,000. It is one of eight divisions in the Linpac Group, which was acquired by Montagu Private Equity, Europe´s leading private equity house, for GBP 860m in June last year. The group reported revenues of GBP 1.2bn in the year ending December 2002, and when acquired by Montagu had 12,000 employees.
“I see this as a key strategic move to enhance the positions of both Linpac and Infia as major international suppliers of plastic food packaging,” said Andrew Creese, managing director of Linpac Plastics. “Not only will Infia´s product range enable us to provide our customers throughout Europe with a wider choice, but I am particularly excited that we have acquired a leading expertise in the fruit and product sector,” he added.
Infia has sites near Bologna, northern Italy, and in Valencia, Spain, employing over 300 people. It was one of the first companies in Italy to use PET for fruit punnets and maintains a strong commitment to research into the use of new materials and equipment.
Infia president Alessandro Fornari said: “I am very pleased that we have been able to reach this agreement with Linpac Plastics. We are both market leaders in different segments of the European food packaging industry and together we have a tremendous future.”
Linpac Plastics has 25 factories worldwide with a staff in excess of 4,000. It is one of eight divisions in the Linpac Group, which was acquired by Montagu Private Equity, Europe´s leading private equity house, for GBP 860m in June last year. The group reported revenues of GBP 1.2bn in the year ending December 2002, and when acquired by Montagu had 12,000 employees.
19.02.2004 Plasteurope.com [13500]
Published on 19.02.2004