SCG Packaging’s wholly owned subsidiary SCGP Solutions (Singapore) has completed the MYR104.5m ($26.65m) acquisition of a 68.3% stake in Malaysian packaging firm Interpress Printers Sendirian Berhad (IPSB).

The remaining shares of IPSB have been retained by the existing owners.

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The acquisition is in line with SCG Packaging’s aim of becoming a total packaging solutions provider in ASEAN countries.

“The acquisition is in line with SCG Packaging’s aim of becoming a total packaging solutions provider in ASEAN countries.”

The transaction is also expected to allow the company to further enhance the overall portfolio and exhibit its potential to serve the region’s fast food consumption, evolving lifestyle and consumer preferences.

IPSB is a food-grade paper packaging company located in Selangor state, Malaysia, offering products such as folding cartons, formed trays, clamshells, wrappers and bags.

Last year, IPSB registered sales of THB585m ($18.33m), largely driven by export sales.

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SCG Packaging’s Inspired Studio is focused on designing and developing products with expertise in graphic design, product structure, and production using paper and other materials.

Some of the consumer packaging products offered by the company include Food Box, PE Paper Bowl, Premium cone cup, Food Tray, PE Paper Cup for Cool Drink and PE Paper Cup for Hot Drink.

The company’s offerings for the industrial packaging segment include corrugated containers, shelf ready packaging, folding carton, logistic packaging, Green Packaging and specialities.