Faerch Group acquires MCP Performance Plastic, as such expanding the company’s geographical footprint beyond Europe and establishing 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, a company statement reads. The transaction marks the first acquisition under Faerch’s new ownership by A.P. Moller Holding.
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 200 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 said. “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 USD55bn. 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”, Hansen added.
The transaction is expected to close within three months, subject to customary closing conditions and regulatory approval.