Faerch Group acquires MCP Performance Plastic. The acquisition expands Faerch’s geographical footprint beyond Europe and establishes a presence in the important US market. It is part of Faerch’s long-term growth strategy and underpins the ambition to lead the transition of food packaging towards true circularity globally. The transaction marks the first acquisition under Faerch’s new ownership by A.P. Moller Holding.
Faerch Group, the leading European supplier of sustainable rigid packaging solutions for the food industry and the world’s first integrated tray recycler, today announces the acquisition of MCP Performance Plastic (MCP). MCP is a high-quality manufacturer of turn-key packaging solutions, serving food producers, brand owners and retailers in the US, Middle East and Europe. MCP employs 150 people and has two production sites in the US and Israel, offering a large range of food trays made from CPET, APET and PP.
“We warmly welcome MCP and our new colleagues to the Faerch Group”, Lars Gade Hansen, CEO of Faerch Group, says. “Our circular solutions will complement MCP’s product range, setting us jointly at the forefront of making food packaging circular also beyond Europe”, he continues. In a circular economy, food packaging is made from recycled content and recycled back into new food packaging in an endless number of cycles. “MCP will serve as a stepping stone for Faerch entering the important US market, which is estimated to account for USD 55 billion. Being local will allow us to support the retailers, brand owners and food manufactures in making the right material choice for true circularity in the US food packaging market”, Lars Gade Hansen adds.
“We are very much looking forward to joining forces with Faerch, allowing us to enhance our product offering further and support our customers on their journey towards sustainable food packaging”, Natan Vilner, CEO of MCP comments. “With the new ownership by Faerch, we gain access to fully new capabilities helping us meet the rapidly surging demand for truly circular packaging solutions”, he continues.
The acquisition and market entry in the US are part of Faerch’s long-term growth strategy with the overriding goal to make food packaging truly circular and bring Faerch’s unique offerings into additional markets. “Our owner A.P. Moller Holding and their globally operating subsidiaries have been engaged in the US for more than 100 years. We are delighted to be able to utilise this exceptional experience when taking the next step in Faerch’s development expanding our operations to the US”, Lars Gade Hansen concludes.
The transaction is expected to close within three months, subject to customary closing conditions and regulatory approval.
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