VIETNAM – SCG Packaging (SCGP), a consumer packaging solutions provider from Thailand, has announced its acquisition of a 70% stake in Starprint Vietnam (SPV), an offset folding carton producer. The transaction’s estimated value stands at VND676.08 billion (US$27.73m).
SCGP will conduct this investment through its wholly-owned subsidiary, SCGP Solutions (Singapore). After the deal concludes, SCGP will hold a 70% stake in SPV, while Starflex Public Company, a flexible packaging company based in Thailand, will own a 25% stake. The remaining 5% stake will be retained by SPV’s previous shareholder.
SPV operates as an offset folding carton packaging manufacturer with two production facilities situated in the Long Binh Industrial Zone within Dong Nai, a province in Southern Vietnam.
These facilities collectively can manufacture 16,500 tons of offset printing and eight million units of rigid boxes annually.
SPV predominantly caters to a customer network that includes domestic and global companies, particularly within the fast-moving consumer goods segment.
This recent acquisition is expected to bolster SCGP’s existing packaging solutions, enabling the company to serve its expanding customer base, primarily within the Association of Southeast Asian Nations (ASEAN) region.
It also positions SCGP to fortify and broaden its footprint in offset folding carton packaging within Vietnam, identified as a potentially high-growth market.
Wichan Jitpukdee, SCGP CEO, remarked, “SPV marks SCGP’s inaugural high-quality rigid boxes facility in ASEAN and our first venture into offset folding carton production in Vietnam.
“Expanding our portfolio to include offset and rigid boxes will significantly elevate our ability to offer comprehensive packaging solutions that meet the burgeoning demand for packaging enhancing brand visibility in Vietnam and ASEAN. This move will foster synergy across our regional operations.”
In October of this year, SCGP concluded two merger and partnership agreements to expand its packaging portfolio in the European and Italian markets.
In the first transaction, SCGP, through its wholly owned subsidiary SCGP Solutions Singapore, acquired a 100% stake in Stockport, UK-based company Law Print & Packaging Management.
The estimated value of this transaction is approximately £10.68 million or Bt570 million (US$12.95 million).
The acquisition of Law Print & Packaging, which is a provider of packaging solutions mainly to the European and British markets, will help SCGP expand its customer network and strengthen sales channels in these regions.
Concurrently, SCGP concluded an M&P deal to acquire an 85% stake in Italian medical equipment manufacturer Bicappa Lab.
This transaction was made through SCGP’s 85%-owned subsidiary Deltalab. The deal has an estimated value of €3.23 million or Bt125 million (US$3.54m).
Bicappa’s acquisition will allow SCGP to expand its existing portfolio to further include scientific equipment, specifically pipette tips.
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