Finnish group to take over packaging manufacturer Plastiroll / Biodegradable films and bags
Walki (Espoo / Finland; www.walki.com) has signed a definitive purchase agreement to acquire 100% of the shares of Finnish film and packaging manufacturer Plastiroll (Ylöjärvi; www.plastiroll.fi), with funds managed by Sponsor Capital (Helsinki / Finland; www.sponsor.fi) as well as key personnel of the company. Financial terms have not been disclosed.

President and CEO of Walki Leif Frilund said the acquisition will broaden the group's range of sustainable packaging. Plastiroll produces biodegradable bags and films, with products marketed under the brands "Bioska" and "Hauska". In addition, the company has extrusion coating and printing capabilities. Its portfolio also includes paper- and board-based materials that are coated with LDPE, HDPE, polypropylene or speciality plastics. The Finnish company was founded in 1983 and has two manufacturing facilities in Ylöjärvi near Tampere. Frilund welcomes the around 90 people currently employed by Plastiroll, which generates a turnover of around EUR 31m.

The Walki group is a protective packaging and technical laminates specialist. In 2018, One Equity Partners (New York, New York / USA; www.oneequity.com) acquired a majority stake in Walki from Nordic investment firm CapMan Buyout (Helsinki; www.capman.com). The packaging company has 10 production plants – two in Finland, in Valkeakoski and Pietarsaari, three in Poland, in Jatne, Kwidzyn and Wroclaw, as well as in Steinfurt / Germany, Haarlem / The Netherlands, Garstang / UK, Svetogorske / Russia and Changshu, Jiangsu / China. According to Walki, the combined annual net sales of its factories is more than EUR 320m.
28.05.2019 Plasteurope.com [242589-0]
Published on 28.05.2019

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