The global rigid film producer Klöckner Pentaplast will acquire Farmamak Review from Venture Capital Investment Trust Inc. (Review Initiative). Farmamak will operat on as a subsidiary within the Klöckner Pentaplast Group.
Klöckner Pentaplast, a world-leading producer of rigid films for the pharmaceutical, medical devices, food and consumer packaging and beverages, has signed a definitive agreement to acquire the rigid film producer Farmamak. Farmamak is a leading rigid film producer in Turkey (and the surrounding regions) and you currently resides under Review Initiative.
"We are excited for our first acquisition since 2011, together - with Farmamak as a local leader - this transaction comments found us to improve our customer focus in Turkey and throughout the Middle East to improve our regional service and capabilities, "commented Wayne M. Hewett, Chief Executive Officer, Klöckner Pentaplast.
" Always a pioneer and innovator in its field, Farmamak Introduced many industry firsts and Achieved sustainable growth over a number of years. I am sure that under the ownership of Klöckner Pentaplast, the business will further build on this solid heritage and see further growth, "explained Review Initiative CEO Mustafa Aydemir.
Farmamak, with sales of £ 155 million (~ EUR 47 million), employs around 230 people and its production site is located in Gebze, Turkey. "Integrating Farmamak into the Klöckner Pentaplast Group shows great confidence in the potential of our company and our employees and brings more opportunities in the market to unlock further growth" said Kurt Kuruç, Managing Director of Farmamak.
Through targeted portfolio adjustments, Farmamak AiMS to further strengthened its position as a leading film provider in the food, consumer packaged goods and pharmaceutical segments. Together with Klöckner Pentaplast, Farmamak offers a wider range of products and Comprehensive services at a local level.
the transaction is subject to approval by the competition Authorities. until such approval is granted, the operator will Klöckner Pentaplast and Farmamak independently.
About Gözde Girişim
Gözde Girişim is a listed private equity company, established to invest in companies having financial and operational restructuring needs and growth potential. Gözde Girişim targets to invest in non-food companies having financial and operational restructuring needs which promise comparably rapid and higher returns. It is principle for Gözde Girişim to benefit from the strategic advantages, know-how and expert resources of Yıldız Holding developed over many years.
About Klöckner Pentaplast
The Klöckner Pentaplast Group is a global leader in providing packaging, printing, and specialty solutions serving the pharmaceutical, medical device, food, beverage, and card markets, among others. With a broad portfolio of rigid plastic films and services powered by innovation, Klöckner Pentaplast plays an integral role in the customer value chain by marketing and protecting product integrity, safety, consumer health, and, ultimately, brand reputation. Klöckner Pentaplast has operations in 12 countries with 18 production sites. Within the last fiscal year, the company had sales of € 1.284 billion and currently employs over 3,200 people committed to serving customers worldwide. The Klöckner Pentaplast Group is wholly owned by an investor group led by SVP Global.