RPC Group plans acquisition of Global Closure Systems
In a bid to strengthen its position in Europe’s plastic packaging market, packaging supplier RPC Group Plc is planning to buy Global Closure Systems (GCS), a maker of plastic bottle tops, for 650 million euros (US$712 million).
In a statement, RPC described GCS as a “leading global manufacturer and provider” of closures and dispensing systems for consumer products in more than 100 countries worldwide, with annual revenues of 590 million euros.
The deal is conditional on approval by RPC’s shareholders, and is expected to be completed by March 2016.
“The proposed acquisition of GCS provides a compelling opportunity for RPC to expand its product offering with an extensive range of highly complementary closure and dispensing solutions and technologies,” said RPC chief executive Pim Vervaat, in a news release.
RPC is buying Saint Cloud, France-based GCS from PAI Partners SAS, a French investment firm. RPC is headquartered in Rushden, England.