Walki Group, backed by One Equity Partners, has announced that it has signed a definitive agreement to acquire a majority stake in Plasbel Plásticos S.A.U, a Spanish leader in sustainable packaging solutions. Plasbel specializes in the production of recycled and compostable bags and flexible packaging products used in the food and retail sectors. In 2020 Plasbel generated annual sales of about EUR 80 million and was employing 290 people.
Plasbel expands Walki’s European footprint with a state-of-the-art manufacturing facility of more than 30 000 m2, located in Murcia, Spain, offering a broad product portfolio of food packaging solutions, in addition to post-consumer recycled and compostable films with applications in the retail and hospitality sectors.
“This acquisition marks an important step for Walki, as part of our strategy to promote circularity and compostability of packaging materials. Plasbel is a great company with a dedicated workforce and superior products in an industry that will see a strong growth in the years to come. We are looking forward to supporting its ambitious journey ahead”, says Leif Frilund, President and CEO of Walki Group. “Plasbel brings not only a strategic expansion to our product portfolio of sustainable alternatives, but also direct access and proximity to blue chip end-user groups”.
“We are excited to become part of Walki’s family and enter into this new phase of growth, with the aim to consolidate our leadership in Spain and further expand Plasbel’s geographical reach. In addition, the complementary R&D capabilities will help the combined entity to become a leading biofilm converter with attractive expansion opportunities across Europe” says Antonio Beltrán, CEO and reinvesting shareholder of Plasbel.
Plasbel will support the continued growth of Walki’s films and bags business and will become part of the global Business Area Consumer Packaging.
The parties have agreed not to disclose the purchase price or the terms of the transaction.
About Walki
At Walki, we believe in a sustainable and circular tomorrow. Our mission is to accelerate the world’s transition into a zero-waste future in packaging and promote the use of energy efficient materials across industries. Walki’s product solutions are designed to bring value to customers in many different markets; from sustainable materials for packaging applications to energy saving performance materials.
Walki is a growing international group organized in three business areas: Consumer Packaging, Industrial Packaging and Engineered Materials, with operations in twelve different countries, both in Europe and Asia. Our production facilities are located in Finland, Germany, the Netherlands, Belgium, Poland, the UK, Russia and China. To best cater to our global customers, we aim to continue investing in state-of-the-art production facilities and promoting our tradition of innovation and exceptional service worldwide.
About Plasbel
Founded in 1997 in Alcantarilla (Murcia, Spain), Plasbel is the leading player in the extrusion of high-quality PE film specialized in the manufacture of post-consumer recycled and bioplastics products with main applications in food packaging, retail and hospitality sectors. Plasbel has a wide customer base of more than 300 clients, being a reference supplier to some of the leading European retailers. The company is a European reference for the development of innovative materials to reduce the carbon footprint of the packaging industry, being very committed to the environment through more sustainable production, resource efficiency and circular economy.
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