TOPPAN Group Acquires Italian High-Performance BOPP Film Company
TOPPAN Holdings Inc. subsidiary TOPPAN Speciality Films Private Limited (TSF), based in India, has entered into a definitive agreement to acquire 80% of the issued shares of Irplast S.p.A. (Irplast), an Italian based high-performance BOPP film manufacturer, from the current majority shareholder, British-based investment fund Cheyne Strategic Value Credit (SVC).
Irplast is a leading manufacturer of high-performance BOPP films, using simultaneous biaxial orientation technology to offer superior transparency, durability, and processability, contributing to reduced environmental impact and improved recyclability and delivering products widely used in various fields, including packaging and labels for food, personal and home care.
Leveraging its extensive experience and technological expertise in the printing and packaging sectors, the TOPPAN Group will integrate Irplast's advanced manufacturing technologies for high-performance BOPP films to develop and deliver innovative solutions that meet various customer needs. Furthermore, this acquisition aligns with the TOPPAN Group's strategic goals of realizing a sustainable society.
“This acquisition represents a significant step forward in TOPPAN's business growth and technological innovation in the film business. By incorporating the advanced technologies and expertise of Irplast, we are confident that we can further enhance our sustainable solutions,” said Hiroshi Suzuki, Executive Officer of the TOPPAN Group leading the global film business. “TOPPAN remains committed to contributing to society through the pursuit of sustainable value creation and customer satisfaction.”
Advisers
The professional team supporting Cheyne Strategic Value Credit (SVC) in the divestiture process includes the advisor Houlihan Lokey and the international law firm Chiomenti, while Irplast's management was assisted by the law firm BonelliErede. In the acquisition process, the TOPPAN Group was advised by EY India as the buy-side investment banker while for due diligence they were assisted by KPMG and the law firms Bird & Bird and SAM & Co.
The preceding press release was provided by a company unaffiliated with Packaging Impressions. The views expressed within do not directly reflect the thoughts or opinions of the staff of Packaging Impressions.
