Sun European Partners has agreed to buy Unterland Flexible Packaging, an Austria-based flexible plastics packaging specialist, from Mondi. The deal is conditional on regulatory clearances.
Unterland specialises in filmic flexible packaging for consumer and industrial applications. It produces polyethylene and polypropylene products including films for lamination, printed and stretch films, bread packaging, stretch tubes and converting films.
Unterland was acquired by Mondi in 2007.
“This is an important agreement in the evolution of our company,” says Peter Tilich, chief executive of Unterland. “Unterland’s strategic focus is increasingly centred on higher value-added segments and we will continue to invest in technological capabilities to develop innovative products in this area. Sun European Partners will be an excellent partner given its tremendous experience in the packaging sector and clear understanding of our unique positioning within it.”
Unterland is the fifteenth packaging transaction that Sun European Partners has made in the past five years.
