Faerch Plast acquires Cryovac brand

Danish converter Faerch Plast has strengthened its position in the global food industry by acquiring Sealed Air's Food Trays business in Europe, which it hopes to complete by 1, November 2015. Sealed Air's Food Trays business manufactures packaging for fresh meat, salad, fruit and food service products and comprises manufacturing sites in Poole, UK, and Buñol, Spain.

With the acquisition, Faerch Plast takes over the Cryovac food-packaging brand that for more than 50 years has supplied food packaging solutions particularly within the fresh meat and skin pack sector. The Holstebro-based company will have the opportunity to offer customers a stronger and wider product portfolio and to service customers on an even larger geographical scale with the addition of the Buñol-based factory in Spain. This is the second acquisition that Færch Plast has pursued this year, having acquired UK-based Anson Packaging six months ago.

“In recent years Færch Plast has been delivering an organic growth above market level as a result of our strategy of continuous product and technology innovation. Being majority owned by the private equity fund EQT VI has enabled us to take a more offensive approach and further develop Færch Plast by acquisitions. The two acquisitions are vital for further strengthening our position as a leader in the production of high performance packaging solutions. Anson Packaging and Sealed Air are strong performing companies with leading positions in their respective segments, namely Cold Food & Snacks and Fresh Meat. Together with our market leading position in Ready Meals, and the extended footprint in southern Europe, the consolidation has created a very strong portfolio covering our market across Europe,” says Færch Plast chief executive, Lars Gade Hansen.

The two manufacturing sites in Poole and Buñol have a combined annual revenue of DKK 350 million (US$52.9m) and 250 employees.

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