PETpla.net Insider 11 / 2018

PET news 6 NEWS PET planet Insider Vol. 19 No. 11/18 www.petpla.net Passina sells Dutch operations to Döhler Group Döhler Group and Passina Group have reached an agreement on the acquisition of Concentra Europe BV with its Dutch and German subsidiaries by Döhler Group. The proposed transaction has now been filed with the relevant antitrust authorities and is conditional upon their approval. This transaction marks a step where customers will benefit from a more complete offering and improved efficiency of the combined businesses in a global market that is character- ised by volatility, as well as the challenges and opportunities of supply and demand. Döhler Group and Passina Group believe that this step has created a path towards further growth in the market, while simultaneously strengthening their respective positions, specifically as reliable suppliers of tropical and natural plant-based ingredients for the global food & beverage industry. Concentra Holding AG, owner of the brand name Passina, will focus its future activities on its core business; the produc- tion and commercialisation of passion fruit products, including passion fruit juices, concentrates and derivatives. Maintain- ing its high-quality standards, it will place additional focus on the development of innovative new products and solutions. www.doehler.com Advent International invests in Manjushree Technopack Private equity investors Advent has invested in Manjushree Technopack Ltd., India’s largest rigid plastic packaging solu- tion provider, in partnership with the founding Kedia family. As part of the transaction, Advent purchased all the shares owned by Kedaara Capital and a portion of the Kedia fam- ily’s stake in Manjushree Technopack. Manjushree’s Founder and Managing Director, Vimal Kedia, and the rest of the company’s senior management team will remain closely involved in the business. Financial terms of the transaction were not disclosed. Manjushree Technopack is the No.1 manufacturer of rigid plastic packaging for the fast-moving consumer goods (FMCG) industry in India. With world-class facilities and technologies, the Bengaluru-based company serves a wide range of FMCG vertical markets, including home care and personal care products, food and beverages, pharmaceuti- cals, dairy and edible oil. Advent International has been investing in India for 11 years and opened a Mumbai office in 2009. The transaction is Advent’s fifth investment in India in three years and third investment in the consumer packaging sector globally in less than two years. Including Manjushree, Advent has invested approximately 60 billion rupees (nearly US$1 billion) in seven companies with headquarters or operations in India. Advent also has significant experience in the industrial sector, including recent investments in two other consumer packaging businesses: Færch Plast, a Danish producer of rigid plastic packaging for the food industry, and Fort Dearborn, a leading North American supplier of high-impact decorative labels for the consumer goods marketplace. Kedaara Capital is an operationally oriented private equity firm pursuing control and minority investment opportunities in India. The firm has made 10 investments since 2014 across diversified verticals, including consumer and consumer deriva- tives, financial services, industrial and healthcare. Kedaara has strong expertise in the packaging sector with its invest- ments in Manjushree Technopack and Parksons Packaging. www.adventinternational.com PepsiCo and Loop sign rPET agreement Loop Industries, Inc., a leading technology innovator in sustainable plastic and PepsiCo, Inc. announced that they have entered into a multi-year supply agreement that will enable PepsiCo to purchase production capacity from Loop’s joint venture facility in the United States and incorporate Loop PET plastic, which is 100% recycled material, into its product packaging by early 2020. Loop Industries has emerged with technology that allows no and low value plastics to be diverted, recovered and recy- cled endlessly into new, virgin-quality Loop PET plastic. This solution allows plastic bottles and packaging of any colour, transparency or condition, carpet, clothing and other polyester textiles that may contain colours, dyes or additives, and even ocean plastics that have been degraded by sun and salt to meet FDA requirements for use in food-grade packaging. As one of the largest purchasers of recycled PET plastic in the consumer goods space, PepsiCo has identified Loop PET as a commercially viable technology to expand the amount of recycled content in its product packaging and help meet its sustainability ambitions and consumer needs. The deal will also include a marketing and communications plan to raise awareness of the importance of recycling, sustain- ability and the circular economy. www.loopindustries.com