As part of a management buy-out that took effect on 31 March 2012, German film and flexible packaging manufacturer Nordenia (Greven; www.nordenia.com) has divested its Flexible Intermediate Bulk Containers (FIBC) and Liner business unit. Under the terms of the deal, whose details and transaction price were kept secret, the newly formed Empac (Emsdetten / Germany) acquired the activities of Nordenia Deutschland Emsdetten and Nordenia Polska Starograd. The MBO was led by Empac’s leading shareholders Richard Sievers and Michael Hans.

The divestiture is part of Nordenia’s strategy to focus on fast moving consumer goods (FMCG), which already constitute about 90% of group profits. The group’s chief operating officer Andreas Picolin said the MBO was the best solution for all parties involved, adding that it afforded great future chances for the 160 employees in Emsdetten / Germany and Starograd / Poland. The latter business has been renamed Starpac in the wake of the transaction.

The new entity’s leading shareholder Sievers said the business would continue to focus on large-scale flexible packaging for the chemical, pharmaceutical and food industries, including flexible intermediate bulk containers (FIBCs) and liners. Sales will be focused on Germany, the Benelux countries, Switzerland as well as the US and China, with about 40% of output expected to go into exports.