Packaging solutions provider Emballator, headquartered in Sweden is buying Europak Oy, a Finnish manufacturer of blow-moulded plastic packaging. The move strengthens the Swedish company’s presence in Northern Europe. The deal is subject to customary closing conditions but is expected to be completed 1 September, 2023.The purchase price has not been disclosed.
Europak mainly supplies blow-moulded cannisters to a customer base active in various industrial sectors. The company was founded in 1980, is based in Espoo, Finland and is currently owned by Finnish investment company Korpi Capital Oy and Harri Laaksonen, Europak’s managing director.
Both owners were in agreement that ‘partnering with Emballator is the right choice for Europak’, said Mikko Fischer, chairman of Europak and partner at Korpi Capital.
According to Kent Viitanen, the CEO of Emballator Group AB, the acquisition will strengthen his company’s presence primarily in Finland and the Baltics, which ‘is fully in line with our strategy to become the natural choice of packaging partner in the Nordics and northern Europe’.
“We invest purposely in sustainable growth and being close to our customers is important, ” he added.
Europak will work closely with Emballator Mellerud, which, with its focus of plastic bottles and plastic cans, manufactures similar and supplementary products. “Europak will be an excellent complement to Emballator Mellerud, and we look forward to developing and expanding our product and sustainability initiatives together with our new colleagues and customers," said Joakim Johannesson, managing director at Emballator Mellerud.
Europak, with an annual turnover of just over 8 million euros and 18 employees, will retain its key personnel, including managing director Harri Laaksonen.
“Emballator's new innovation centre gives the company excellent development opportunities of new recycled plastic materials and new production techniques. We are proud that we have found a reliable partner in Emballator that wants to grow to the next stage with our customers and employees,” he said.
The Emballator Group has around 900 employees and an annual turnover of approximately SEK 2,500 million. The Group is divided into three business areas, Emballator Metal Group, Emballator Packaging Innovations, and Emballator Packaging UK, and has 9 manufacturing units in Sweden, Finland, and the UK.