Leaf Resources has agreed to secure commercialisation and distribution rights of Leafcoat, its biodegradable coating product for packaging in Europe.
Based in Australia, Leaf Resources is already licensed for the commercialisation and distribution of Leafcoat in North America, Brazil, and Malaysia.
Leafcoat contains lignin and glycerol, and offers a renewably sourced, recyclable and biodegradable packaging solution to customers.
It will replace the use of petroleum-based wax and other plastic coatings in packaging solutions.
Kodak has agreed to offload its flexographic packaging business to Montagu Private Equity in a transaction worth $390m.
The purchase consideration of the deal includes a base purchase price of $340m and potential earn-out payments of up to $35m until 2020. It will also include a $15m prepayment to Kodak for the provision of products and services.
The flexographic packaging division will operate as a stand-alone company by Montagu. It will work towards the development, manufacturing, and marketing of Kodak Flexcel NX System and other flexographic products.
The acquisition is expected to be completed in the first half of next year.
Germany-based packaging and bottle machine manufacturer Krones has acquired MHT Holding for an undisclosed sum.
Based in Germany, MHT Holding is engaged in the production of polyethylene terephthalate (PET) preform moulds and injection moulding tools for the food and packaging industry.
The acquisition will enable it to perform tool manufacturing, strengthening Krones’ existing portfolio and PET value chain.
The existing management of MHT will continue to run the business from its headquarters in Hochheim, Germany.
Dominion Packaging’s quick-service restaurant business, Dominion QSR, has been acquired by LBP Manufacturing, a foodservice packaging company based in the US.
The financial terms of the deal have not been disclosed.
Dominion QSR offers packaging solutions to quick-service brands in the US. It operates a 240,000ft² manufacturing facility in the country.
The acquisition extends the product portfolio of LBP through the addition of Dominion QSR’s folding carton and corrugated packaging capabilities.
Brett Hawkins, the founder of Dominion, will join LBP Manufacturing, under the terms of the agreement.
FabricaciÃ³n de MÃ quinas has agreed to sell its 49.7% stake in Empresas Comegua to Owens-Illinois (O-I), a container glass product manufacturing firm based in the US, for $119m. The purchase consideration also includes net debt adjustments.
Based in Mexico, Empresas Comegua is engaged in the production of glass containers across its glass manufacturing plants in Costa Rica and Guatemala.
It offers container products to Central American and Caribbean markets.