MOSCOW (MRC) -- Ecopol, developer and producer of water-soluble and biodegradable films for household detergent products, has signed a strategic investment with SK Capital Partners in a bid to support its upscaling endeavours, enter new markets, and expand its production footprint into the United States, said Packagingeurope.
Ecopol’s films and delivery systems are primarily geared toward the unit dose household detergent market for automatic and dishwashing laundry applications. It aims to develop more sustainable, convenient, and environmentally friendly systems for delivery, while opening the door to lower carbon emissions, plastic packaging consumption, and water usage across businesses’ supply chains.
The company is headquartered in Chiesina Uzzanese, Italy, and the company owns production facilities in Italy and the United States. Growing demand for innovative films is expected to accelerate Ecopol’s growth, and it has invested over €70 million into new assets since 2019 – including a new PVOH film line for laundry applications and a new production facility in Griffin, Georgia, USA.
SK Capital will acquire a majority interest in Ecopol with CEO and controlling shareholder Mauro Carbone retaining his position within the company, as well as his status as the largest individual shareholder. Existing minority investor Tikehau Capital will also keep its minority stake.
Legal counsel was provided to SK Capital by Latham & Watkins LLP, and to Ecopol by Legance and Alpeggiani Studio Legale Associato. STS Deloitte served Ecopol as a tax advisor, UBS as a financial advisor, and lead arrangers Credit Agricole Italia and Intesa Sanpaolo are supporting the transaction with committed financing.
Customary regulatory conditions and approvals must be satisfactorily met before the transaction is closed.
Previously, Constantia Flexibles signed a joint venture agreement with Premji Invest and S.B. Packagings to expand its business and operations in various packaging sectors and create value in the Indian market.
DS Smith has also invested €11.35 million into the expansion of its Cartogal production plant in A Pobra do Caraminal, which is said to utilise ‘environmentally friendly’ materials to construct energy-efficient systems.
Other homecare products have also taken on more sustainability-minded packaging solutions, including the home-recyclable cardboard cartons for 750ml own-brand Sainsbury’s laundry detergents and Tesco’s recyclable cardboard packaging for its laundry detergent pods.
We remind, Lotte Chemical Titan Holding Bhd expects the outlook for the petrochemical industry to remain volatile.
In the second quarter ended June 30, Lotte reported a wider net loss of RM313.5mil against RM145.9mil last year. Revenue for the quarter tumbled 34% to RM1.86bil from RM2.8bil a year ago while loss per share stood as 13.76 sen versus 6.41 sen previously.