Holfeld Plastics Ltd., the Ireland-based packaging manufacturer, has been bought by Par-Pak Europe (PPE) for an undisclosed sum.
PPE, a thermoforming manufacturer located in Milton Keynes, England, is part of the U.S.-based Waddington Group. PPE's main market is the bakery sector but it services other markets including dairy and medical.
Holfeld Plastics was founded by Edmund Holfeld in 1978. In a statement Holfeld said he would be leaving the company to pursue his “many outside commercial and leisure interests.”
The company said its 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.”