Photo: Faerch. Faerch acquires Paccor Packaging to the private equity firm Lindsay goldberg. The acquisition is another important step in executing Faerch's long-term growth plan and accelerating the industry's transition to circular packaging solutions.
Faerch is a leading European provider of rigid food packaging and in the recycling integrated PET food packaging. Paccor is the European leader in protective packaging for the dairy sector and offers a wide range of innovative packaging solutions primarily for the food industry.
"With Paccor's strong position in the dairy sector, our complementary geographic footprints and our shared ambition to circulate food packaging, Paccor is the perfect match for Faerch," he says. Lars Gade Hansen, CEO of Faerch Group. “We have always respected Paccor for its dedication to quality, innovation and customer service, and we are delighted to join forces now with the excellent Paccor team,” he continues.
“We really want to be part of the Faerch Group. After years of successful growth, we see Faerch as the perfect partner for us ”, he adds. Andreas Schütte, CEO of Paccor. "Faerch's unique integrated recycling capabilities offer entirely new opportunities to accelerate the transition to circular packaging solutions, while combining the two companies' dedication to innovation and R&D investments," he says.
Paccor was founded in 2011, as a result of a successful merger of several packaging companies. Today, the company is present in 18 countries. The acquisition comprises 16 production facilities in Europe, Asia and the US The new company setup marks a strong focus on innovation and, when the transaction is approved, the Faerch Group will be comprised of 34 plants and will employ nearly 6.000 people all over the world.
The transaction is subject to customary closing conditions and regulatory approval. Paccor's UK business, including its two production facilities, are not part of the transaction and will remain in the hands of Lindsay Goldberg.
