Denmark-based packaging company Faerch Plast has acquired thermoformed packaging manufacturer Anson Packaging for an undisclosed amount.
The acquisition, which is in line with Faerch Plast's growth strategy, follows private equity fund EQT VI's acquisition of Faerch Plast.
Faerch Plast said with this investment it will benefit from Anson Packaging's extensive expertise in design and innovation, in addition to a wide product range.
Headquartered in the UK, Anson Packaging produces packaging for the food to go, dairy desserts, bakery and convenience sectors. It generates more than kr500m ($72.01m) in total revenues.
Faerch Plast president and CEO Lars Gade Hansen said: "Faerch Plast has the potential to develop further in Europe and even globally. The new ownership has provided us with a platform to take a more aggressive approach to acquisitions.
"With Anson Packaging, we will strengthen the group's position as a leader in the production of high-performance packaging solutions for ready meals, fresh meat, and cold foods and snacks."
Faerch Plast plans to invest significantly in the production facilities at Anson Packaging over the coming years.
The company is introducing a three-year investment programme, which aims to further develop the existing competencies at Anson Packaging.
Anson Packaging managing director Andrew Osborne-Smith said: "Faerch has an enviable reputation for customer focus and manufacturing excellence.
"This combined with our strength in product design and market position, will enable us to accelerate our growth and deliver more value to our customers and opportunities to our employees. The two businesses are very complementary"
Image: Faerch Plast plans to invest significantly in the production facilities at Anson Packaging over the coming years. Photo: courtesy of Faerch Plast.