Walki Group has signed a definitive agreement to acquire a majority stake in Plasbel Plásticos S.A.U, a Spanish leader in sustainable packaging solutions. Plasbel specializes in the production of recycled and compostable bags and flexible packaging products used in the food and retail sectors. In 2020 Plasbel generated annual sales of about EUR 80 million and was employing 290 people.
Plasbel expands Walki’s European footprint with a state-of-the-art manufacturing facility of more than 30 000 m2, located in Murcia, Spain, offering a broad product portfolio of food packaging solutions, in addition to post-consumer recycled and compostable films with applications in the retail and hospitality sectors.
“This acquisition marks an important step for Walki, as part of our strategy to promote circularity and compostability of packaging materials. Plasbel is a great company with a dedicated workforce and superior products in an industry that will see a strong growth in the years to come. We are looking forward to supporting its ambitious journey ahead”, says Leif Frilund, President and CEO of Walki Group. “Plasbel brings not only a strategic expansion to our product portfolio of sustainable alternatives, but also direct access and proximity to blue chip end-user groups”.
“We are excited to become part of Walki’s family and enter into this new phase of growth, with the aim to consolidate our leadership in Spain and further expand Plasbel’s geographical reach. In addition, the complementary R&D capabilities will help the combined entity to become a leading biofilm converter with attractive expansion opportunities across Europe” says Antonio Beltrán, CEO and reinvesting shareholder of Plasbel.
Plasbel will support the continued growth of Walki’s films and bags business and will become part of the global Business Area Consumer Packaging.