Sustainable plastic film product supplier Trioplast has acquired load stability and food packaging solutions provider Apeldoorn Flexible Packaging (AFP).
The companies have not disclosed the financial terms of the deal. AFP has been acquired from JPF Netherlands, an entity of B.C. Jindal group.
In July 2017, Jindal Poly Films bought AFP for €82.3m.
Based in the Netherlands, AFP produces and supplies premium load stability film (LSF) and food packaging film (FPF).
The company has been supplying plastic films since 1968. With a turnover of €120m, AFP has 220 employees and a production facility located in Apeldoorn, Netherlands.
AFP MD Evert Paardekooper said: “We see Trioplast as a very good owner and partner in developing our business to the next level.
“Trioplast and AFP share the same views on long-term sustainable development, built on customer-driven innovation and solid quality products.
“With the combined product portfolios, increased technical support and leading R&D capabilities, I am convinced we together will create even more value for our customers.”
Following the completion of the deal, Trioplast Group will own 100% of the shares in AFP. The deal is subject to customary regulatory requirements and approvals.
Trioplast Group CEO Andreas Malmberg said: “AFP has a proven track record of supplying the market with premium products and superior support, to maximise value for customers.
“We have a strong belief in the organisation and management of AFP who has developed the company in an impressive way in the latest years. With our joint forces, we hope to continue this journey.”
Earlier this year, Trioplast began a long-term collaboration with Stena Recycling in plastic recycling.