paccor has signed a purchase agreement on March 30, 2021 for the acquisition of miko pac, the packaging division of Miko NV, Belgium. This action strengthens Paccor's position in injection molding, complementing the product portfolio and expanding the company's competencies. The Miko Pac plant in Indonesia expands Paccor's international reach and enables it to serve the rapidly growing Asian market.
Miko Pac is a world leader in the production of Plastic bottles with many years of experience. Develops and produces innovative solutions for ready meals, ice cream, margarine and other products. It employs approximately 500 people at its production plants in Belgium, Poland and Indonesia and at its sales offices in France and Germany.
Founded more than 45 years ago, Miko Pac is a specialist in thermoforming, injection molding and in-mold labeling. Miko Pac will join Paccor and its operational management will remain in the hands of its former co-owners and CEOs, Kristof Michielsen and Karl Hermans.
The parties have agreed not to disclose the purchase price. The acquisition is expected to be completed in the second quarter of 2021, following approval by the relevant competition authorities.
Andreas Schütte, CEO of Paccor, has stated: «after the purchase of EDV Packaging Solutions, SA, in 2019, the acquisition of Miko Pac is the next logical step in the implementation of our long-term commercial strategy and an excellent fit for our defined strategy of mergers and acquisitions ”.
“After years of successful growth, we now see Paccor as the perfect partner and owner to move the business forward and further globalize its market position. Both companies have a strong culture of innovation. We are committed to serving the best interests of our clients, we are using the latest methods and processes and we have continuously invested in the best R&D infrastructure ”, he stated Frans Van Tilborg, CEO of Miko.
