Plastipak Packaging's Acquisition of APPE soon to Be Complete
Plastipak Packaging’s intention to acquire European PET packaging specialist APPE, Wrexham, UK, announced last November, is anticipated to be finalized on 1st June. Plastipak Packaging, Inc., a global manufacturer of rigid plastic packaging, was selected by Forest Partners (administrators of La Seda de Barcelona) as the successful bidder to acquire APPE with a winning bid of EUR 360 million.
Martin Hargreaves, APPE’s CEO: “I am delighted with the sale to Plastipak. Our recent ownership difficulties have held our business back from fully delivering and implementing creative packaging solutions for the market, so this is the most positive outcome for our business and its long term future."
APPE currently has nine manufacturing plants covering Europe, Asia and North Africa and Plastipak has thirty-two manufacturing plants globally of which seven are within Europe.
Plastipak Packaging, Inc., a wholly-owned subsidiary of Plastipak Holdings, Inc., is a world leader in the design and manufacture of high-quality, rigid plastic containers for the food, beverage, and consumer products industries. Plastipak operates more than 27 sites in the United States, South America and Europe, with a total of over 4,000 employees.
Would you like to subscribe to our Newsletters on plastics technology and profit from the latest information?
Looking for a new challenge? Check out our jobs market!
Patents encourage innovation: Stay on the ball with the latest innovations in the plastics industry in our patents section.