European Commission clears Plastipak APPE acquisition
Plastipak was the winning bidder in the insolvency procedure of La Seda de Barcelona of Spain, the mother company of APPE.
Plastic preform PET resins
Both companies are mainly active in the manufacturing of plastic preforms made of PET (polyethylene terephthalate) resins, which are tube-shaped intermediary products molded into PET bottles.
Both companies also produce PET bottles and recycle PET materials to produce recycled PET resin.
In a statement The Commission said: ‘The proposed transaction will raise no competition concerns because a number of credible competitors will continue to constrain the merged entity in the markets for PET preforms, whereas its market position for PET resin and PET bottles will be limited.’
Petainer - 'reserve' bidder
FoodProductionDaily reported in November last year plastic packaging manufacturer, Plastipak Packaging, would acquire APPE Packaging Division with a bid of €360m ($448m).
The company beat Petainer to win the bid, with Annemieke Hartman–Jemmett, group commercial strategy director, Petainer, welcoming the competition.
She said at the time: “If you look at our organisation we are developing and growing in the PET and plastics market. As well as new launches we continue to look for complementary acquisitions also focusing on organic growth.
“Plastipak Packaging is a large player in the US market. We understand it is looking to increase its presence in Europe. We welcome organisations that are looking to enhance PET packaging and I think competition is good.
Headquartered in Michigan, Plastipak Packaging operates more than 27 sites in the US, South America and Europe.
