UK-based plastic packaging firm RPC Group has agreed to acquire German industrial packaging solutions provider Nordfolien in a deal valued at €75 million.
With two operating facilities in Germany and Poland, Nordfolien designs and manufactures polythene films for both industrial and consumer packaging markets.
RPC Group said that the move is in line with the company’s plan to grow its flexibles platform and comes after the acquisition of BPI Group.
RPC Group chief executive Pim Vervaat said: “The acquisition will significantly enhance our growth platform in flexibles whilst adding further innovation capability in an attractive market segment.
“Participation in the ongoing consolidation of the European plastic packaging industry remains a core part of RPC’s strategy, and through our focus on innovation, sustainability and operating in attractive end markets, we remain confident in continuing to grow organically through the cycle ahead of GDP.”
Other than boosting bpi’s market positions in Europe, the deal is expected to provide access to other markets, including Eastern Europe.
The closure of the transaction is conditional upon the receipt of approvals from the Polish and German competition authorities, and is scheduled to take place in the first half of the financial year ending March 2019.