M&As this week: Bruni Glass, Smurfit Kappa, Pregis

9 March 2018 (Last Updated March 8th, 2018 09:33)

Bruni Glass has completed the acquisition of UK-based closures, packaging, and packaging equipment supplier H. Erben.

Bruni Glass has completed the acquisition of UK-based closures, packaging, and packaging equipment supplier H. Erben.

H. Erben will operate as Bruni Erben, following the transaction.

Bruni Glass is an Italian distributor of glass containers, bottles and special glass packaging solutions and a subsidiary of US-based rigid packaging solutions provider Berlin Packaging.

Smurfit Kappa has rejected an €8.6bn ($10.6bn) takeover offer from International Paper Company.

“The acquisition will strengthen Pregis’ position in the engineered foam market in North America.”

International Paper also offered a 15% stake to Smurfit Kappa shareholders in the combined entity.

Smurfit Kappa rejected the proposal as it was against its interests of operating as an independent company and underrated its asset and replacement value.

Based in Ireland, Sumrfit Kappa is a manufacturer of corrugated packaging products, while International Paper is a US-based producer of fibre-based packaging, pulp and paper products.

Pregis has completed the acquisition of Rex Performance Products (RPP) for an undisclosed amount.

The acquisition adds 100,000ft² of manufacturing space and 150,000ft² of warehouse area to the company’s portfolio.

Both based in the US, Pregis is a provider of innovative protective packaging materials while RPP is a polyethylene foam manufacturer.

The acquisition will strengthen Pregis’ position in the engineered foam market in North America.