Five packaging companies are combining forces to become the sixth-largest packaging company in the world.
The new company, Luxembourg-based Exopack Holding Sarl, will boast 63 plants, 8,650 employees and revenues of $2.5 billion, according to a news release.
The new group combines Exopack, a U.S.-based producer of flexible paper and plastic packaging, with four leading European companies, according to the release.
The European companies include: Britton Group, a flexible plastic packaging manufacturer; PACCOR, a rigid plastic packaging company; Kobusch, a producer of flexible and rigid packaging systems; and Paragon Print & Packaging, a leader in private-label packaging in the United Kingdom, according to the release.
All five packaging companies are affiliated portfolio companies of Sun Capital Partners, Inc., according to the release. The brand names of the five businesses will remain in use by the combined company, according to the release.
“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,” Marc Leder, co-chief executive officer of Sun Capital Partners, said in the release.
Jack Knott will serve as chief executive officer of the combined company, according to the release.
“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 Knott said in the release. “The larger scale will enable us to accelerate the development and commercialization of new and differentiated products that offer our customers a competitive advantage.”