Barely two months after announcing it had purchased 100% of the shares for Slovakian flexible packaging producer Moneta-S (Michalovce; www.moneta-s.com), Austrian packaging producer Schur Flexibles (Baden; www.schurflexibles.com) is closing out the week with news that it has reached an agreement to take over Denmark’s Danapak Flexibles (Slagelse; www.danapakflex.com) from Danish cooperative Arla Foods (Viby J; www.arla.com).

The acquisition is expected to be completed by 1 July – subject to approval by the respective authorities – and expands the number of companies within the Schur Group to twelve. As reported in March with the scooping up of Moneta-S shares – see Plasteurope.com of 06.03.2014, the latest takeover is in line with the “buy and build” strategy of German investment group and owner Capiton (Berlin; www.capiton.de). No financial details of the deal have been provided.

With more than 50 years of industry experience and 190 employees, Danapak Flexibles is known as a specialist for high-barrier packaging solutions for the pharma, dairy and assorted food industries. Schur says their latest move is another sign of the group’s aim to become a dynamic flexible packaging group. Prior to the takeover, the eastern Danish company had annual revenues of approximately EUR 53m.

“Danapak Flexibles’ unique product technology centre combines skills within research, development and graphic design and features a fully equipped laboratory and pilot plant, which will enable us to quickly meet demands and trends from our customers,” explained Jakob Mosser, CEO of the Austrian-based group.

The two-year-old Schur Flexibles now has a workforce of more than 1,300 employees and active companies in Germany, Denmark, Finland, The Netherlands, Poland, Greece, and Slovak Republic. With the new acquisition, the company says its annual revenues in flexibles are roughly EUR 320m.