Finnish packaging manufacturer Walki (Espoo; www.walki.com) said it has signed a definitive agreement to acquire a majority stake in Spanish packaging producer Plasbel Plásticos (Murcia; www.plasbel.com). Price and terms of the transaction were not disclosed.

Plasbel will become part of Walki’s global consumer packaging business unit. The Spanish company specialises in the production of recycled and compostable bags and flexible packaging products used in the food and retail sectors. It generated sales of EUR 80m in 2020.

The acquisition expands Walki’s European manufacturing footprint, sustainable packaging portfolio and geographical reach. Walki gains Plasbel’s 30,000 m² manufacturing facility in Murcia, which produces a broad range of food packaging solutions, along with post-consumer recycled and compostable films with retail and hospitality applications. Walki said it aims to become a leading converter of biofilms.