Toppan Holdings subsidiary acquires majority stake in Italian BOPP film manufacturer
(Image credit: Irplast).Toppan Holdings subsidiary Toppan Speciality Films in India has signed a definitive agreement to acquire 80% of the issued shares in Irplast, an Italian manufacturer of biaxially oriented polypropylene (BOPP) films. The shares will be acquired from the current majority stakeholder, British investment fund Cheyne Strategic Value Credit.
Irplast utilizes simultaneous biaxial orientation technology to enhance transparency, durability, and processability. The company’s solutions are said to contribute to improved recyclability and reduced environmental impact, making its products essential across various industries, including packaging and labels for food, personal care, and home care products.
Hiroshi Suzuki, executive officer of the Toppan Group leading the global film business, says: “This acquisition represents a significant step forward in Toppan’s business growth and technological innovation in the film business.”
“By incorporating the advanced technologies and expertise of Irplast, we are confident that we can further enhance our sustainable solutions. Toppan remains committed to contributing to society through the pursuit of sustainable value creation and customer satisfaction.”
Operational and commercial synergies
With experience in the printing and packaging industries, the Toppan Group plans to integrate Irplast’s manufacturing technologies to expand its portfolio and deliver sustainable solutions that meet evolving demands in the region.
Fausto Cosi, CEO of Irplast, says: “The inclusion of Irplast within the Toppan Group represents a unique opportunity to accelerate our growth, and to amplify synergies with such a prestigious international network.”
“This is a crucial step to meet new European regulations and make a tangible contribution to reducing CO2 emissions, and perfectly align and complimentary with Toppan’s strategies in the packaging market.”
Last year, Toppan Holdings secured its third consecutive recognition as a “Supplier Engagement Leader” by CDP for its sustained efforts in addressing climate change across supply chains. The company also entered into an agreement with Sonoco Products Company to acquire Sonoco’s Thermoformed and Flexible Packaging business for approximately US$1.8 billion.
