Effective from September 4th 2014, Par-Pak Europe (PPE), a leading thermoformer of containers and trays in the UK, has acquired 100% of the shares of Holfeld Plastics, the Ireland-based packaging manufacturer, for an undisclosed sum.
Located in Milton Keynes, PPE is part of the US-based Waddington Group. PPE’s main market is the bakery sector but it said it services other markets including dairy and medical. In a statement Edmund Holfeld, the founder at Holfeld Plastics, said he would be leaving the company to pursue his “many outside commercial and leisure interests”, while the existing senior management team would continue in its current roles.
It went on: “We believe that this acquisition creates exciting opportunities for the continued development and expansion of both Holfeld Plastics and PPE… Our combined product range and merged technical resources enhancing our capacity to serve the needs of our existing and potential new market sectors… PPE and Holfeld Plastics already share the same values and a commitment to customer service excellence and innovation… By combining our strengths, we are convinced we can bring you new opportunities supported by on-going investment in R&D, materials technology and increased thermoforming capability.”