The Klöckner Pentaplast Group has completed its acquisition of LINPAC Senior Holdings Limited, a European-based film producer and converter.
The transaction creates a worldwide leader in the rigid and flexible film market, with annual revenues exceeding $2 billion. The combined group will provide complete packaging solutions to customers and, as one of the most innovative firms in the film and packaging industry, be a true R&D powerhouse. Klöckner Pentaplast will continue to be led by Wayne M. Hewett. Daniel Dayan, former CEO of LINPAC, will lead the food and consumer packaging division.
The closing completes the transaction agreed to and announced on in April 2017.