Berry Plastics takes over Dutch Frans Nooren Beheer
Jun 19, 2012 (M&A Navigator via COMTEX) --
(C)2012 M2 COMMUNICATIONS http://www.m2.com
19 June 2012 - US plastic packaging products maker Berry Plastics Corporation said it had wrapped up the takeover of Dutch Frans Nooren Beheer BV without providing financial details.
Through the deal, the buyer gets the Frans Nooren Beheer Companies, notably coating and sealant specialist Stopaq BV and its operating companies. The latter, with 2011 revenues of some EUR23m (USD29m), will join Berry's existing Corrosion Protection Group.
The buyer said that the transaction is expected to be immediately deleveraging after achieving synergies.
Stopaq's current chief executive officer J. Frits Doddema will become executive vice president and general manager at Berry's Corrosion Protection Group. The company's founder Frans Nooren will serve in an ambassadorial capacity to Berry's Corrosion Protection Group.
Stopaq makes visco-elastic technologies for use in corrosion prevention, sealing and insulation applications ranging from pipelines to subsea piles to rail and cable joints. It manages a production site with R&D facilities, an anti-corrosion Technology Park, and Centre of Excellence training and exhibition facilities.
Berry makes open top and closed top packaging, polyethylene-based plastic films, industrial tapes, medical specialties, flexible packaging, heat-shrinkable coatings, specialty laminates, and FIBCs, among others. The company's client base stands at more than 13,000.
Sector: Paper/Packaging/Office Supplies
Target: STOPAQ BV, Frans Nooren Beheer BV
Buyer: Berry Plastics Corporation
Vendor: Frans Nooren
Type: Corporate acquisition