RPC Group, the UK plastic packaging supplier, has announced it will acquire its Danish rival, packaging maker Superfos Industries, for about €240 million.
RPC said the deal would provide it with factories in Poland and Scandinavia, as well as operations in Turkey and North Africa.
Currently owned by financial investors IK Investment Partners and Ratos, Superfos manufactures injection moulded, standard-range rigid plastic packaging, serving a range of customers in food and non-food markets. Key products include small pots, predominantly for food applications, and pails for food and non-food applications across consumer and industrial segments.
Headquartered in Taastrup, Denmark, Superfos has nine production facilities across the Nordic region, France, Poland, Spain, Belgium and the UK, and employs over 1,300 people.
Commenting on the deal, president and CEO of Superfos Hans Pettersson said: “As two of the leading European manufacturers of rigid plastic packaging, the combination of RPC and Superfos is an exciting opportunity to bring together the wealth of expertise in product design and technology that exists in each of our businesses.
“It is our belief that the success of both companies is founded on our common commitment to delivering high quality, innovative and differentiated packaging solutions alongside exceptional levels of customer service. We believe that our ability to deliver on this commitment can only be strengthened as a result of the acquisition.”
RPC said it planned to fund the acquisition through a £88.8 million rights issue and a new €130 million term loan facility. The deal is expected to close in early February 2011.
RPC is a leading European supplier of rigid plastic packaging, manufacturing a range of standard and bespoke designs across consumer and industrial markets. The company is headquartered in Higham Ferrers, England, and operates throughout the UK, across mainland Europe and in the US, and employs over 5,900 people in over 11 countries.
RPC manufactures packaging using the core conversion processes of injection moulding, thermoforming and blow moulding.
