RPC
Letica purchase complete / Advancement of company's "Vision 2020" strategy
RPC Group (Rushden / UK; www.rpc-group.com) has announced the completion of its deal to buy packaging producer Letica Group (Rochester Hills, Michigan / USA; www.letica.com).
The acquisition, announced 9 February 2017 (see Plasteurope.com of 13.02.2017), sees an initial USD 490m (EUR 460m) paid to Letica shareholders, with a further USD 150m, dependent on performance and other criteria. Letica, RPC’s sixth acquisition since late 2016, manufactures rigid plastic packaging that serves construction, food, chemical and retail end markets.
Speaking about the deal’s completion, RPC CEO Pim Vervaat said: “This is another important step in the implementation of our 'Vision 2020' strategy, allowing RPC to create a meaningful presence in North America through a well-invested platform with leading positions in growing end markets."
The acquisition, announced 9 February 2017 (see Plasteurope.com of 13.02.2017), sees an initial USD 490m (EUR 460m) paid to Letica shareholders, with a further USD 150m, dependent on performance and other criteria. Letica, RPC’s sixth acquisition since late 2016, manufactures rigid plastic packaging that serves construction, food, chemical and retail end markets.
Speaking about the deal’s completion, RPC CEO Pim Vervaat said: “This is another important step in the implementation of our 'Vision 2020' strategy, allowing RPC to create a meaningful presence in North America through a well-invested platform with leading positions in growing end markets."
16.03.2017 Plasteurope.com [236445-0]
Published on 16.03.2017
German version of this article...