The financial terms of the transaction have not been disclosed.
TPG develops portable fuel containers and engineered blow-moulded products at an advanced manufacturing facility in Murray, Kentucky.
The company uses patented flame mitigation and dispensing technology to ensure product safety.
Through this acquisition, IPACKCHEM intends to introduce its Advanced In-Mold Fluorination technology (Advanced IMF) in North America and increase TPG’s capacity to facilitate this expansion.
The company will initially focus on the crop protection market for the 2023-24 growing season.
IPACKCHEM founder and CEO JP Morvan said: “We are extremely excited to partner with TPG Plastics, which has established a high-quality business, and look forward to producing our Advanced IMF barrier packaging in their world-class plant ideally located in Murray.
“This transaction is an important step for IPACKCHEM to deliver on our promise to serve our international customers from a truly global manufacturing footprint.
“We plan to supply the North American crop protection market as of the 2023-2024 season, while continuing to expand TPG’s existing customer base.
“IPACKCHEM’s presence in Murray will also open opportunities to expand our offering to other customers in Life Enhancing Chemical segments, including those we currently serve on other continents.”
Based in Paris, France, IPACKCHEM is a global supplier of innovative and specialised barrier packaging solutions for the crop protection and speciality chemical end-markets.
The company also develops packaging for other key market segments, including pharmaceutical, animal health, laboratories, flavours and fragrances.
It has facilities across Europe and in the UK, China, India, Brazil and South Africa, employing around 1,300 people in total.