Faerch announces completion of the CGL Pack acquisition
In continuation of the announcement on 7 May 2018, the Leading European supplier of trays for the food industry, Faerch, is pleased to announce the completion of the acquisition of CGL Pack from PSB Industries in France. The transaction comprises the activities of two French manufacturing sites located in Annecy and Lorient as well as the CGL Pack headquarter in Annecy and associated commercial activities.
The transaction takes place just eight months after private equity fund Advent International acquired Faerch. An ownership that has opened a number of opportunities for the further development and acceleration of Faerch ambitions on the international market through acquisitions and organic growth initiatives.
”It has been a top priority to reinforce our presence in France by adding both local production foot-print and additional sales competences. We are very pleased, that we have now found the right company to include in the Faerch Group. The acquisition provides the right footprint for further developing our French business. As a result of this, we expect significant growth in the region, and we have therefore already prepared significant investments within CGL Pack”, says Faerch Group CEO, Lars Gade Hansen.