Walki Group signs definitive agreement to acquire Finnish packaging companies Westpak and Flexipack for undisclosed terms; Westpak and Flexipack form an integrated value chain, providing flexible packaging solutions to leading Nordic food brands

Sample article from our Packaging Industry

August 5, 2022 (press release) –

Walki Group has signed a definitive agreement to acquire 100 % of the shares in Westpak Oy Ab and Flexipack Oy Ab. Since years, these two companies form an integrated value chain, providing high quality flexible packaging solutions to leading Nordic food brands.

In 2021 Flexipack and Westpak generated combined sales of about EUR 40 million. Together they are employing some 100 employees. Westpak is based in Säkylä, Finland, whilst Flexipack production facility is located in Vaasa, Finland.

“With this acquisition we continue to implement our strategy to expand our offering of more sustainable packaging alternatives by leveraging on our strong material science know-how. Flexipack and Westpak have a very complementary offering of high-quality printed products and a proven commitment to a dedicated customer service” says Leif Frilund, President and CEO of Walki Group. “I would like to warmly welcome the employees of Westpak and Flexipack to become part of our multinational organization. We are looking forward to broaden our customer relationships and to enhance our manufacturing presence as we work together to strengthen our position as an industry leader.”

“We are pleased to join forces with the Walki team, who values the history of our entrepreneurial driven business and is committed to our companies’ long-term growth, We believe that by combining our market knowledge and customer focus with Walki’s strong R&D capabilities and European footprint, we can provide even stronger benefits to our customers and a successful future for our employees,” say Jonas Skuthälla , Managing Director of Westpak and Stefan Söderlund, Managing Director of Flexipack .

Flexipack and Westpak will support the continued growth of Walki’s flexible packaging business and will become part of the global Business Area Consumer Packaging.

The transaction is pending upon approval from the relevant competitive authorities. The parties have agreed not to disclose the purchase price or the terms of the transaction.

For more information, please contact:

Leif Frilund, CEO Walki, tel. +358 40 354 3330
Nikolaus Wolfram, EVP Consumer Packaging, tel. +49 1525 9658118
Wolfgang Thissen, CFO Walki, tel. + 49 173 643 3081

 

About Walki

At Walki, we believe in a sustainable and circular tomorrow. Our mission is to accelerate the world’s transition into a zero-waste future in packaging and promote the use of energy efficient materials across industries. Walki’s product solutions are designed to bring value to customers in many different markets; from sustainable materials for packaging applications to energy saving performance materials.

Walki is a fast growing international group organized in three business areas: Consumer Packaging, Industrial Packaging and Engineered Materials, with operations in twelve different countries, both in Europe and Asia. Our production facilities are located in Finland, Germany, Belgium, France, Spain, the UK, Poland, Russia and China. We are employing about 1 500 people globally and we expect a turnover for this year of more than 700 MEUR. To best cater to our global customers, we aim to continue investing in state-of-the-art production facilities and promoting our tradition of innovation and exceptional service worldwide.

About Westpak

Westpak Oy is a Finnish manufacturer of flexible packaging materials. The company was established in 2008, but our experience in the industry reaches a lot further. We have established our position with a flexible and customer-oriented operating model on Finland and export markets. The cornerstones of our value world are transparency, cooperation and responsibility.

About Flexipack

Flexipack is a BRC-certified, family-owned Finnish company with over 50 years of experience. The company is proud to be a trusted partner for smooth deliveries and its profound knowledge in optimized food and industrial packaging of the highest quality. By working in close cooperation with and meeting the evolving needs of each customer, the company has developed first-class know-how in how to use a minimum amount of packaging material to gain the maximal quality, product safety and environmental benefits.

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