Faller Packaging has acquired Greek pharmaceutical packaging specialist Paperpack, expanding its European manufacturing and customer network into South-Eastern Europe. Financial terms of the transaction were not disclosed.
Paperpack is one of Greece’s leading providers of pharmaceutical packaging solutions and gives Faller Packaging a stronger position in an expanding pharmaceutical market.
The companies specialize in packaging products for pharmaceutical and healthcare customers, creating a combination centered on highly regulated end markets where quality, reliability and long-term customer relationships are particularly important.
Faller Packaging said the acquisition brings together two complementary pharmaceutical packaging specialists and creates a broader platform for serving customers across Europe.
Paperpack contributes an established market position in Greece and South-Eastern Europe, while Faller Packaging brings a wider European footprint, broader product portfolio and additional operating capabilities.
Management believes combining those strengths can create new growth opportunities while maintaining the quality and customer service standards of both businesses.
Paperpack is headquartered near Athens, with operations in Kifisia and Metamorfosi.
Founded in 1891, the company employs more than 200 people and manufactures folding cartons, cardboard packaging and paper leaflets.
Paperpack primarily serves pharmaceutical and healthcare customers and supplies clients in more than 40 countries.
Faller Packaging has a considerably broader European manufacturing network.
Founded in 1882, the company has specialized for more than 30 years in customized secondary packaging solutions for the pharmaceutical industry.
Its products include folding cartons, leaflets, labels and combination products, spanning both standardized offerings and customized packaging solutions.
Faller Packaging currently operates sites in Waldkirch, Binzen, Schopfheim and Gebesee in Germany, Hvidovre and Horsens in Denmark, Łódź in Poland and Debrecen in Hungary.
The group employs more than 1,500 people.
Adding Paperpack extends that footprint further south and strengthens Faller Packaging’s ability to serve pharmaceutical and healthcare companies operating throughout the region.
For Paperpack, joining the larger group provides access to Faller Packaging’s European network and capabilities while preserving the characteristics management says have supported the Greek company’s growth.
Those include customer focus, flexibility, operational reliability and long-standing relationships.
The companies also emphasized that their shared focus on pharmaceutical packaging and quality standards should facilitate the combination.
Faller Packaging views Paperpack as another step in a broader European growth strategy rather than a standalone geographic expansion.
The company expects the enlarged network to create additional opportunities to support customers across multiple markets while giving Paperpack access to a larger product portfolio.
The transaction remains subject to customary regulatory approvals.
KEY QUOTES:
“The acquisition of Paperpack represents another important step in executing our growth strategy. By joining forces, we strengthen our presence in South-Eastern Europe and expand our ability to support customers across the region. At the same time, we are reinforcing our commitment to being a trusted partner to the pharmaceutical and healthcare industries.”
Dagmar Schmidt, CEO of Faller Packaging
“Joining the Faller Packaging Group marks an exciting new chapter for Paperpack. We are proud of what we have built over the years: a strong pharmaceutical packaging business based on quality, reliability, and long-standing customer relationships.”
“In Faller Packaging, we have found a strategic partner that shares our values and our long-term vision. By combining Paperpack’s strong position in Greece and South-Eastern Europe with Faller’s broader capabilities, product portfolio, and European network, we see significant opportunities to create additional value for our customers, open new opportunities for our people and accelerate our next phase of growth. Most importantly, we will continue to build on the qualities that have made Paperpack successful: customer focus, flexibility, reliability, and operational excellence.”
Dimitris Tsiftsis, CEO of Paperpack
