Paccor, Britton Group, Kobusch and Paragon Print & Packaging will merge with Luxembourg-based Exopack Holdings Sarl, Paccor announced in a statement Monday.
After the merger, the combined business will have 63 plants, 8,650 employees and aggregate revenues of more than $2.5 billion, making it the sixth-largest plastics packaging company in the world. No details were provided on when the merger would be completed.
Exopack is a US-based producer of flexible paper and plastic packaging and advanced coatings while Britton Group is a flexible plastic packaging manufacturer. Paccor is the second-largest rigid plastic packaging company in Europe, Kobusch is a producer of tailor-made flexible and rigid packaging systems and Paragon Print & Packaging is a manufacturer of private label packaging solutions in the UK.
All five packaging companies are affiliated to private investment firm, Sun Capital Partners, Inc.
"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 Exopack Chief Executive Jack Knott. "The larger scale will enable us to accelerate the development and commercialization of new and differentiated products that offer our customers a competitive advantage."
The combined company's expanded footprint means the company will be well positioned to supply diverse end markets, and unlock additional growth opportunities. Additionally, Exopack will have a more robust, diverse and complementary product portfolio, the company said.
The merger would also enable Exopack to invest more efficiently in the new technologies that would deliver the best packaging solutions to its customers, the company said.
"We don't anticipate any immediate or significant changes in the long-standing relationships we share with our valued suppliers," Paccor added.
