Færch Plast acquires Sealed Air's European Food Trays Business
Færch Plast A/S has further strengthened its position as a significant supplier to the expanding global food industry with the agreed acquisition of Sealed Air's Food Trays Business in Europe, closing expected by November 1st 2015.
Sealed Air is one of the world's leading manufacturers of food, protective and speciality packaging materials. The company's Food Trays Business manufactures high quality packaging solutions for fresh meat, salad, fruit and food service. The acquisition comprises the activities of the Poole (UK) and Buñol based (Spain) manufacturing sites, Sealed Air Ltd and Sealed Air Buñol S.L.U., as well as associated commercial activities.
Strengthened position
With the acquisition, Færch Plast takes over the Cryovac food-packaging brand that for more than 50 years has supplied innovative food packaging solutions worldwide, particularly within the fresh meat and skin pack sector. In combination with Færch Plast's position as a leading European producer of packaging trays for the food industry, the acquisition provides the Holstebro-based company with the opportunity to offer its customers a stronger and wider product portfolio and to service customers on an even larger geographical scale with the addition of the Buñol-based factory in Spain.
"We are impressed by the extensive product portfolio at Sealed Air Poole and Buñol, and we believe the combination with Færch Plast to be an excellent opportunity for both parties, providing an even stronger foundation to deliver a broad, high quality product range to our customers. The reputation and image of Sealed Air's European tray activities are impressive", says Færch Plast President & CEO, Lars Gade Hansen.
This is the second acquisition that Færch Plast concludes in 2015 and is finalized only six months after the purchase of UK based Anson Packaging Ltd.
"In recent years Færch Plast has been delivering an organic growth above market level as a result of our strategy of continuous product and technology innovation. Being majority owned by the private equity fund EQT VI has enabled us to take a more offensive approach and further develop Færch Plast by acquisitions. The two acquisitions are vital for further strengthening our position as a leader in the production of high performance packaging solutions. Anson Packaging and Sealed Air are strong performing companies with leading positions in their respective segments, namely Cold Food & Snacks and Fresh Meat. Together with our market leading position in Ready Meals, and the extended footprint in southern Europe, the consolidation has created a very strong portfolio covering our market across Europe", says Færch Plast President & CEO, Lars Gade Hansen.
Jonathon Durnford, Vice President at Sealed Air Food Care Europe states: "Sealed Air is committed to working with Færch Plast to ensure that our customers have the best in class range of trays and lidding films. In the near future, we look forward to expanding our portfolio to include ovenable and retort film solutions. We will work closely with Færch Plast during the transition so that it can continue to maintain quality and supply standards, while Sealed Air continues to innovate for a broader market offering in future years.
The two manufacturing sites in Poole and Buñol have a combined annual revenue of DKK 350 million and 250 employees.
