TOPPAN Specialty Films expands horizons with stake acquisition in Italian BOPP producer Irplast

ITALY – TOPPAN Specialty Films, a division of TOPPAN Holdings in India, has finalized an agreement to acquire 80% of the issued shares of Irplast.

This Italian company specializes in the production of biaxially oriented polypropylene (BOPP) films.

The shares will be acquired from Cheyne Strategic Value Credit (SVC), a British investment fund with a majority stake in Irplast.

The financial details of the transaction have not been disclosed.

According to the company, Irplast produces BOPP films using simultaneous biaxial orientation technology, which enhances the films’ transparency, durability, and processability.

These films are also noted for their lower environmental impact and greater recyclability.

They are commonly used in a range of applications, such as packaging and labelling for food items and personal and home-care products.

Through this acquisition, TOPPAN aims to integrate Irplast’s advanced manufacturing technologies into its own operations, enabling the development of innovative BOPP film solutions that cater to various market demands.

TOPPAN Group executive officer Hiroshi Suzuki said, “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 by pursuing sustainable value creation and customer satisfaction.”

TOPPAN’s recent acquisitions and expansion strategy

The acquisition of Irplast aligns with TOPPAN’s broader strategy of strengthening its global presence in the specialty films sector.

Last year, TOPPAN Holdings Inc. announced a definitive agreement to acquire Sonoco Products Company’s Thermoformed & Flexible Packaging (TFP) business for approximately US$1.8 billion on a cash-free and debt-free basis, subject to customary adjustments.

This strategic acquisition combines Sonoco TFP’s extensive sales network, customer base, and solutions expertise in North and South America with the TOPPAN Group’s global technical and manufacturing capabilities, bolstering its position in sustainable packaging solutions.

Sonoco’s TFP business is a market leader in thermoformed and flexible packaging, serving diverse industries such as food, retail, and healthcare.

Its portfolio includes packaging for value-added categories like snacks, condiments, healthcare products, prepared meals, fresh goods, coffee, and pet food.

In 2023, TFP generated approximately US$1.3 billion in revenue on a pro forma standalone basis.

Hideharu Maro, Representative Director, President, and CEO of TOPPAN Holdings, expressed enthusiasm for the acquisition, “We are thrilled to bring Sonoco’s TFP business into the TOPPAN Group.

“This milestone accelerates our strategy to become a global leader in sustainable packaging, combining complementary strengths to drive growth, address customer needs, and deliver value to our shareholders.”

Subscribe to our email newsletters that provide busy executives like you with the latest news insights and trends from Africa and the World. SUBSCRIBE HERE