Schur Flexibles Group has acquired film producer Termoplast in a move to accelerate its expansion in the Italian market.
Based in Tuscany, Italy, Termoplast is a manufacturer of films for industrial, food, medical and pharmaceutical applications, and specialises in recyclable products. The company’s portfolio includes sealable, barrier and high-barrier films, as well as peelable and reclosable offerings.
With a manufacturing facility in Gambassi Terme, Florence, the family business reported annual revenue of approximately €50 million in 2020.
The company is said to pursue a holistic resource efficiency approach. All waste from Termoplast’s production operations is recycled, while plastic waste from the region is also prepared for further processing by Termoplast’s own recycling company.
Schur Flexibles CEO, Michael Schernthaner, said: “Termoplast is a perfect fit for Schur Flexibles Group. Its entire production process is geared towards sustainability. It is truly a best practice example of the circular economy, whether with respect to innovations, its product portfolio, the recycling of post-industrial waste.
“We look forward to growing together in Italy as well as in our existing markets. Our joint portfolio of recyclable packaging solutions with excellent processing qualities, such as MDO-PE films, paves the way for sustainable packaging innovations in a real circular economy.”
Termoplast’s former owners, Salvino and Sandro Barnini, said: “We are very pleased that we will be able to continue supporting our existing customers and their business operations in Europe and push ahead with our clear focus on sustainability.
“Our innovations developed in close cooperation among our R&D teams will allow us to tap into new markets. As part of a strong European group, we will also secure long-term, qualified jobs for our employees.”
Termoplast’s former owners and the third generation of the family will remain with the company as managing directors to ensure continuity.
The financial terms of the transaction have not been disclosed.
Earlier this year, Schur Flexibles expanded its network in the Italian market with the acquisition of packaging specialist Sidac.
Last month, Austria’s B&C Group announced that it had agreed to acquire an 80% stake in Schur Flexibles from Lindsay Goldberg.
© FoodBev Media Ltd 2021
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