Berlin Packaging, a packaging services provider based in the US, has reached an agreement with Oak Hill Capital Partners and Canada Pension Plan Investment Board (CPPIB).
The agreement enables the packaging firm to focus on its further stages of growth.
CPPIB will invest $500m in Berlin Packaging, under the definitive recapitalisation agreement.
Upon completion of the transaction, Berlin Packaging’s CEO Andrew Berlin and his management team will manage the company by the end of the year.
Stora Enso, a pulp and paper manufacturing company based in Finland, in collaboration with Sulapac, intends to facilitate the development of sustainable drinking straws in place of plastic straws.
Based on the bio-composite material provided by Sulapac, the straws will contain wood and natural binders.
Industrial composting and biodegrade methods can be used for the recycling of straws in the marine environment.
The latest partnership builds on the joint development agreement signed by the two companies in May to license materials and technology of Stora Enso.
Sustainable straws are expected to be commercially available in the market in the second quarter of next year.
Cross Enterprise Procurement Group (CEPG) has secured a contract from Canada-based Loop Industries for the supply of 100% recycled PET plastic to Coca-Cola bottlers.
Bottlers will receive Loop PET plastic from the packaging firm. The plastic is fabricated at the joint venture facility of Loop Industries and Indorama Ventures.
The multi-year supply framework agreement assists in the commercialisation of Loop’s depolymerisation technology.
The technology uses depolymerising and re-polymerising techniques to generate virgin-quality polyester plastic.
Pollock Packaging, a packaging and facility supplies firm based in the US, has been acquired by Australia-based Orora in a transaction worth $80.5m.
Through the acquisition, Orora intends to strengthen the regional footprint of Orora Packaging Solutions (OPS) in the US. It is also expected to enhance product capabilities and facility supplies.
Pollock operates a manufacturing plant and six distribution centres across the US.
The Pollock management team will continue its operations to oversee seamless integration of the two companies.
PPC Flexible Packaging has completed the acquisition of Temkin International for an undisclosed sum.
Based in the US, Temkin is specialised in the production of rollstock, stand-up pouches, and floral sleeves for a range of industries.
Upon completion of the transaction, the combined entity will continue operations as PPC Flexible Packaging, while fresh produce and floral segments will farm part of the Temkin brand.