Germany-based rigid plastic packaging manufacturer Paccor has acquired a majority stake in family-owned Spanish manufacturer of rigid barrier packaging EDV Packaging Solutions.
Based in Barcelona, EDV supplies multi-layer sheets and a range of thermoformed polypropylene and bio-compostable barrier packaging and coffee capsules to the food industry, Paccor said in a 24 July statement.
Further details on the number of shares acquired or the investment size were not disclosed.
EDV is specialised in manufacturing rigid packaging solutions for products requiring greater protection against oxygen migration and offers complete project management services such as product design, according to Paccor.
The company is claimed to be the leader in rigid barrier applications for ready-meals and the world’s third largest producer of fruit bowls, such as those used for compotes for instance.
“We are very happy to welcome EDV Packaging Solutions… Over the past years, EDV has achieved very impressive growth and profitability,” said Andreas Schütte, the CEO of Paccor.
Post-acquisition, EDV will serve as Paccor’s Center of excellence for thermoformed products requiring higher oxygen protection.
Furthermore, via the takeover, Paccor will enter the highly attractive and fast-growing market for coffee capsules in Europe.
Founded in 1972, the company is currently run by the second generation of the Pursals family and works mostly in partnership with brand owners in the food industry.