Elopak has signed an agreement with Swiss company SIG Combibloc to buy all of the fresh gable top carton packaging business managed by Combibloc UK.
In Europe, Elopak is the leader for chilled dairy packaging solutions and premium juices, both fresh and ambient, with its Pure-Pak and plastic bottle systems. Elopak currently has well above a 55 per cent share of the gable top market in Europe.
The company says that the acquisition of the gable top business from SIG Combibloc will enable it to further consolidate its market position. The transaction provides access to significant contractual agreements with key customers in the Europe and will especially strengthen Elopak's market position in the Netherlands, Austria and UK.
Bjørn Flatgard, CEO of Elopak, commented on the transaction: "Elopak is going through a strong development phase, focusing on organic growth with core customers, increased attention towards innovations, as well as pursuing acquisitions to consolidate Elopak's leading position.
"The acquisition of SIG Combibloc's gable top business is an integral part of our strategic plan and a key milestone for generating synergies and further profitable growth for Elopak. The transaction will benefit our customers as well as Elopak, and create the foundation for improved partnership in each of our core segments".
The acquisition became effective at the beginning of April 2003.