French plastic packaging products company IPACKCHEM has acquired a majority stake in TPG Plastics, said the company.
With the deal, IPACKCHEM plans to produce its in-mould fluorination barrier packaging products at TPG's plant in Murray, Kentucky. “This transaction is an important step for IPACKCHEM to deliver on our promise to serve our international customers from a truly global manufacturing footprint,” said JP Morvan, the company's founder and CEO.
“We plan to supply the North American crop protection market as of the 2023-2024 season, while continuing to expand TPG’s existing customer base,” the CEO said. Financial details were not disclosed.
We remind, SK Capital Partners, LP, a private investment firm focused on the specialty materials, chemicals and pharmaceuticals sectors, has completed its previously announced acquisition of Ipackchem Group SAS, a leader in sustainability-oriented barrier packaging.
IPACKCHEM is a global supplier of specialised barrier packaging solutions that service the crop protection and specialty chemicals end markets.
The company, which last year was acquired by US private equity firm SK Capital, has plants in Europe, the UK, China, India, Brazil, and South Africa.
mrchub.com