“With Walki, Plastiroll becomes part of a significant international packaging materials company. This will enable further international growth.”
Finnish laminate packaging specialist Walki has announced that it will acquire sustainable packaging material producer Plastiroll.
In a statement, Walki said that it had signed a definitive purchase agreement to acquire 100% of the shares of Plastiroll from funds managed by Finnish private equity investor Sponsor Capital and key personnel of the company.
Financial terms of the transaction have not been disclosed.
“With this transaction, we will significantly broaden our offering of sustainable packaging materials including compostable bags and films as well as recyclable dispersion coated fibre-based packaging,” said Leif Frilund, president and CEO of Walki.
Plastiroll is one of Europe’s well-known producers of biodegradable bags and films, with more than twenty years of experience in developing and producing compostable films. These products are marketed under the Bioska and Hauska brands.
More and more companies are looking into alternatives to fossil fuel-based materials in order to meet consumer demand and to meet their sustainability credentials.
Plastiroll’s CEO Kari Laukkanen has welcomed the new owners. He said: “With Walki, Plastiroll becomes part of a significant international packaging materials company. This will enable further international growth.”
Plastiroll has two manufacturing facilities in Ylöjärvi, near Tampere, Finland, and generates a turnover of €31 million.