Packaging firm Faerch Group has announced the acquisition of MCP Performance Plastic, a move that takes the A.P. Moller Holding-owned business into the US for the first time.
MCP, which develops food packaging solutions for food producers, brand owners and retailers in the US, Middle East and Europe, operates two production sites, in the US and Israel.
Faerch Group added that the transaction fits in with its strategy of transitioning food packaging to circular economy solutions, with MCP offering a range of food trays developed from CPET, APET and PP.
Complementing The Faerch Offering
“Our circular solutions will complement MCP’s product range, setting us jointly at the forefront of making food packaging circular also beyond Europe," commented Lars Gade Hansen, CEO of Faerch Group.
“MCP will serve as a stepping stone for Faerch entering the important US market, which is estimated to account for $55 billion. Being local will allow us to support the retailers, brand owners and food manufactures in making the right material choice for true circularity in the US food packaging market."
The value of the transaction was not revealed, with Faerch Group confident that it can be completed in the next three months, subject to customary closing conditions and regulatory approval.
A.P. Moller Holding Ownership
The acquisition is the first to be made under Faerch Group's new ownership by A.P. Moller Holding.
“Our owner A.P. Moller Holding and their globally operating subsidiaries have been engaged in the US for more than 100 years," Hansen added. "We are delighted to be able to utilise this exceptional experience when taking the next step in Faerch’s development expanding our operations to the US."
Last November, Faerch announced the acquisition of Sirap, which operates sites in Italy, Poland and Spain.
© 2021 European Supermarket Magazine – your source for the latest Packaging news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.
