Magnera has reached an agreement to transfer its operations in Caerphilly, Wales, to Polyart Group, which is held by Prudentia Capital.
Financial terms of the deal remain undisclosed.
The move follows a review by Magnera of its production technologies, product range and the markets it supplies.
As part of that work, the company assessed options for the Caerphilly business, which makes metallised paper used in areas such as premium labelling, gift wrap and food packaging.
Magnera said the assessment led to a formal sale process and an arrangement under which Polyart will acquire all shares in the Caerphilly business.
Magnera CEO Curt Begle said: “We are deeply grateful for the dedication and commitment of our Caerphilly team, and we wish them continued success as they join Polyart.
“We also value the loyalty of our customers and remain fully committed to supporting a seamless transition, ensuring exceptional service and continued success for all stakeholders.”
Polyart is a specialist manufacturer of coatings and films. The group was created in 2020 through the combination of Arjobex, MDV, Tech Folien and Reisewitz.
It produces paper and film materials for speciality labels, including industrial, decorative and security uses, as well as applications in digital printing and display.
Polyart also undertakes custom coating work. The company is based in Boulogne-Billancourt, France, and is owned by Prudentia Capital.
Prudentia Capital founding partner Dominik Zwerger commented: “Prudentia Capital is pleased to add the Caerphilly operations to our growing portfolio of companies. We’re excited about the additional value we can bring to our existing customers and about growing the business, which serves customers globally.
“Our vision is to leverage the expertise of the management team to continue providing high-quality products.”
Magnera said it supplies more than 1,000 customers globally with materials used in absorbent hygiene products, protective clothing, wipes and food and beverage-related items.
It operates 44 production sites worldwide and has 8,000 employees.
