Five packaging companies in new merger

Five leading packaging companies in North America and Europe have announced their intention to merge and operate as one global leader under the banner of Exopack Holdings Sarl, a new Luxembourg company.  Together with 63 plants, 8,650 employees and aggregate revenues of more than US$2.5B, the new entity becomes the six largest plastics packaging company worldwide.

Exopack, a U.S.-based producer of flexible paper and plastic packaging, and advanced coatings, will be joined by Europe-based Britton Group, a flexible plastic packaging manufacturer; PACCOR, the second-largest rigid plastic packaging company in Europe; Kobusch, a producer of tailor-made flexible and rigid packaging systems; and Paragon Print & Packaging, a leader in private label packaging solutions in the UK. They are all affiliated portfolio companies of Sun Capital Partners, Inc.

The brand names of the five businesses would remain in use by the newly established company, led by Jack Knott as CEO and Mike Alger as CFO. Dieter Bergner will be CEO of PACCOR (Global Rigid business); and Michael Cronin joins the team as CEO of the Global Flexibles business.

"This combination represents a natural next step in a process that began eight years ago to create a global packaging company with a solid foundation for future growth," said Marc Leder, co-CEO of Sun Capital Partners.  "Building on past collaborations between the companies, the combination will immediately achieve synergies and allow the Combined Company to more effectively pursue global business."

"By joining together to form this new entity, we will be better able to serve the needs of our global customers through a manufacturing base spanning North America, Europe, the Middle East and China that enhances our ability to deliver outstanding service," said Mr Knott . "The larger scale will enable us to accelerate the development and commercialisation of new and differentiated products that offer our customers a competitive advantage." 

"All five companies have achieved success by introducing market led innovations," said Michael Cronin. "We strongly believe that this combination will increase that capability by aliNIKE AIR FORCE