adapa expands recyclable packaging innovations by acquiring Termoplast S.r.L.
“Termoplast is a perfect fit for adapa Group. Its entire production process is geared towards sustainability. It is truly a best practice example of the circular economy, whether with respect to innovations, its product portfolio, the recycling of post-industrial waste. We look forward to growing together in Italy as well as in our existing markets. Our joint portfolio of recyclable packaging solutions with excellent processing qualities, such as MDO-PE films, paves the way for sustainable packaging innovations in a real circular economy,” says adapa CEO Michael Schernthaner.
Top-notch expertise: Lowest material thickness with the highest barrier function and ideal processing qualities for 100% recyclable films
Termoplast’s facility in Gambassi Terme / Florence located on a production area spanning 26,500 square metres boasts a state-of-the-art and energy-efficient machinery park for manufacturing films. Its extensive product portfolio includes sustainable sealable, barrier and high-barrier films as well as peelable and reclosable films. The company pursues a holistic resource efficiency approach, with its recyclable MDO-PE films featuring an extremely low material thickness and excellent barrier and processing qualities. The company focuses on industrial customers, as well as the food, medical and pharmaceutical sectors.
“We are very pleased that we will be able to continue supporting our existing customers and their business operations in Europe and pushing ahead with our clear focus on sustainability. Our innovations developed in close cooperation among our R&D teams will allow us to tap into new markets. As part of a strong European group, we will also secure long-term, qualified jobs for our employees,” state Salvino and Sandro Barnini, the company’s current owners and managing directors.
With around 100 employees, the family business, now being managed by a team of the second and third generations, reported annual revenue of approx. € 50 million in 2020, producing an average of about 28,000 tonnes of film material per year. All waste from the company’s own production operations is recycled in line with its “zero waste” strategy. In addition, plastic waste from the region is also prepared for further processing by Termoplast’s own recycling company.
adapa is acquiring 100% of the shares in Termoplast S.r.L. In accordance with the Group’s integration strategy, the former owners and the third generation of the family will stay on board as managing directors to ensure continuity.
The parties agreed to maintain confidentiality with respect to the purchase price. The closing of the transaction took place at the end of June 2021.