Faerch acquires Sirap food packaging business in Italy, Poland and Spain
Faerch A/S with headquarter in Denmark will acquire the Sirap food packaging business headquartered in Italy but with business units and production sites Italy, Poland and Spain in a carve out from the Sirap group. The acquired business employs approx. 1,000 employees. Plesner has acted as lead counsels on all legal matters connected with the transaction.
The transaction marks the fifth add-on acquisition by Faerch, which Plesner has advised on, and underlines the continued international growth journey for Faerch, which now has businesses in the UK, France, The Netherlands, Spain, Germany, Czech Republic and with the acquired business also in Italy and Poland.
Faerch is the leading European supplier of trays for the global food industry and the world’s first integrated tray recycler. Faerch is majority owned by the international private equity firm Advent International, which acquired the Faerch group in 2017.
The Sirap Group is owned by the Italian company Italmobiliare, which is listed on the Milan stock exchange. Italmobiliare will continue to operate the remaining businesses in the Sirap group in the UK, Germany and France as well as the Austrian-based Petruzalek business.
The transaction is subject to customary governmental approval and is expected to be completed end of 2020.
Read more about the transaction here.