Paccor

Kilian Braunsdorf has been appointed chief executive of PACCOR, succeeding Andreas Schuette, who stepped down following the acquisition by Faerch Group.

Faerch Group has acquired packaging maker PACCOR. The combined group has more than 30 production sites and around 6,000 employees across Europe, the US and Asia.

Plastics News reports that Faerch is to acquire Paccor Packaging. The article text provided contains no further details.

PACCOR closed its previously announced acquisition of Miko Pac N.V., a plastics packaging processor with about 500 employees and turnover above 100 million euros in 2020. The closing took place on June 1, 2021.

PACCOR signed a purchase agreement on 30 March 2021 to acquire Miko Pac, the packaging division of Belgian firm Miko N.V. Miko Pac makes plastic packaging at sites in Belgium, Poland and Indonesia, and completion is expected in Q2 2021 pending approval.

PACCOR plans to invest more than 40 million euros in 2021 in capacity, automation, logistics and technology. The investment includes new injection molding capacity at its Ravensburg site in Germany for in-mold labeled PP cups and lids.

Paccor acquired a majority stake in EDV Packaging, a Barcelona-founded maker of high-barrier rigid plastic packaging for food, with founders keeping a minority stake. DC Advisory was exclusive financial advisor to the shareholders. The deal was signed and completed in July 2019.