Walki Group to acquire Finnish packing producers Westpak and Flexipack

Walki Group has signed a definitive agreement to acquire 100% of the shares in Westpak Oy Ab and Flexipack Oy Ab. Since years, these two companies form an integrated value chain, providing high quality flexible packaging solutions to leading Nordic food brands.

In 2021 Flexipack and Westpak generated combined sales of about Euro 40 million. Together they are employing some 100 employees. Westpak is based in Säkylä, Finland, whilst Flexipack production facility is located in Vaasa, Finland.

“With this acquisition we continue to implement our strategy to expand our offering of more sustainable packaging alternatives by leveraging on our strong material science know-how. Flexipack and Westpak have a very complementary offering of high-quality printed products and a proven commitment to a dedicated customer service” says Leif Frilund, President and CEO of Walki Group.

Flexipack and Westpak will support the continued growth of Walki’s flexible packaging business and will become part of the global Business Area Consumer Packaging.

The transaction is pending upon approval from the relevant competitive authorities. The parties have agreed not to disclose the purchase price or the terms of the transaction.
https://www.lesprom.com/en/news/Walki_Group_to_acquire_Finnish_packing_producers_Westpak_and_Flexipack_104220/

Related Posts

Graphic Packaging International Continues Winning Streak With AmeriStar Awards

KeelClip™ and PaperSeal®, two award-winning packaging innovations from fiber-based packaging solutions leader Graphic Packaging International (Graphic Packaging), are being recognized again, this time at the at the Institute of Packaging Professionals' 2020 AmeriStar Packaging Awards. KeelClip, a replacement solution for plastic rings and shrink wrap on multipack cans, gathered the top awards in both sustainability and the beverages/alcoholic drinks category. PaperSeal tray, an alternative to modified atmosphere packaging and vacuum skin packaging, received the top award in the food/refrigerated category.

Berry Global Group, Inc. Reports Third Quarter 2021 Results

The net sales growth is primarily attributed to increased selling prices of $533 million due to the pass through of inflation, organic volume growth of 5%, and a $147 million favorable impact from foreign currency changes. These increases were partially offset by prior quarter divestiture sales of $62 million. The organic volume growth was primarily due to organic growth investments and continued recovery of certain markets that had previously been facing COVID-19 headwinds. The operating income decrease is primarily attributed to a $42 million unfavorable impact from price cost spread, and a $12 million increase in selling, general, and administrative expense, partially offset by a $24 million increase from the organic volume growth, and a $23 million favorable impact from foreign currency.

UPM Specialty Papers to display new co-created recyclable packaging solutions at PACK EXPO International 2024

Visitors will be able to explore an innovative portfolio of fibre-based, recyclable packaging papers that help customers and brand owners bring power to their purpose. These include a number of new and exciting solutions co-created with customers and expert partners from across the packaging value network. Demand for sustainable packaging continues to experience rapid growth. These co-creation projects are leading to recyclable, fibre-based breakthroughs that support packaging sustainability goals of brands and packaging converters.
Back To Top
×Close search
Search