Swedish polyethylene film manufacturer Trioplast (Smålandsstenar; www.trioplast.com) has agreed to acquire 100% of the shares in Apeldoorn Flexible Packaging (AFP, Apeldoorn / The Netherlands; www.afpholland.com) from Jindal Films (New Delhi / India; www.jindalfilms.com) subsidiary JPF Netherlands for an undisclosed sum. The deal, signed on 22 November 2019, is subject to regulatory approval.

AFP’s plant was founded in 1960 as Crown van Gelder. It was part of US film group AEP Industries between 1996 and 2008 before being acquired by Jindal in 2017 – see Plasteurope.com of 18.07.2017 – after operating independently for a brief period. The Dutch company produces films for load stability and food packaging as well as technical PE films. With some 220 employees, AFP most recently generated sales of around EUR 120m.

Trioplast is one of the leading European PE film producers, posting sales of EUR 420m with around 1,000 employees working at facilities in Denmark, France and Sweden. The group was acquired by investment company Altor (Stockholm / Sweden; www.altor.com) in 2018 – see Plasteurope.com of 06.04.2018 – which is pursuing its strategy of expanding its holdings into “world-class” companies.

“We have a strong belief in the organisation and management of AFP who has developed the company in an impressive way,” said Andreas Malmberg, CEO of Trioplast. AFP managing director Evert Paardekooper added that the Dutch company sees its new owner as compatible with its aim of working towards long-term sustainable development based on customer-driven innovation and high-quality products.