Polish rigid packaging moulder Plast-Box SA., known for its diverse range of plastic buckets and lidded containers, broadened its portfolio through the takeover of domestic processor Stark Partner Sp. z.o.o.
Słupsk, Poland-based Plast-Box acquired a 100% stake late last year in Stark which manufactures injection moulds and thermoforms smaller dairy, ice cream and other food packs, mainly for the domestic market.
At its plant in Urszulin, near Warsaw, Stark has also been producing polystyrene packaging films since 2006 and can pre-print film with its flex printing capability. The firm generates 95% of its revenue in Poland but also exports to European states such as Belgium, Lithuania, Czech Republic, Slovenia and the UK.
The takeover deal, valuing the Stark business at more than €5.25m, brings to the Plast-Box group portfolio the addition of small food containers as well as extruded film products, according to the purchaser.
“This is the next stage of the development and strengthening of Plast-Box's market position. The acquisition expands the group's product range with innovative products and solutions for the packaging industry,” stated Plast-Box as it announced the deal.
Plast-Box, listed on the Warsaw Stock Exchange, agreed in November 2018 it would pay for the business in three separate instalments, the first of which was valued at around €3.89m. The final tranche was due to be paid by 10 October 2020.
Today, the group, which dates back to 1983, has two production units at Chernihiv in the Ukraine apart from its main plant in Słupsk, northern Poland. It has grown steadily in recent years with the first Ukrainian plant open in 2005 and a second launched in 2011. It also has a subsidiary in Belarus.
In Ukraine, the group's product portfolio includes large moulded storage containers, food crates and pallets as well as a range of the regular Plast-Box plastic buckets, pails and packaging containers.
Plast-Box has continued to develop more innovative packaging containers based on its bucket range, including lidded versions integrating a plastic carry handle in 2017. The firm already serves the food and chemicals industries in markets across Europe.