Turkey-based Polinas Plastik Sanayii ve Ticareti has acquired flexible packaging solutions producer Propak.
Polinas, which is owned by Ulker Group, has acquired Propak from Southeast Europe Equity Fund II (SEEF II) for an undisclosed sum.
SEEF II, which is a $320m private equity fund established by SEAF to invest in Southeast Europe, purchased 80% controlling stake in Propak in 2011.
Established in 1977, Propak provides flexible packaging products to the customers of the Turkish food industry.
The company has capabilities in both flexible printing technologies, including flexo and rotogravure.
Propak produces a wide variety of flexible solutions for the food and non-food markets.
The company provides flexible solutions to the various food categories, including biscuits and bakery products, chocolate and sugar confectionary, snack foods, dairy and processed meat.
Propak also provides packaging solution to the dehydrated foods and beverages, soft drinks, ice cream, frozen food, dried food and cereals, as well as home and personal care products.
The firm’s rotogravure machines can print up to 10 colors, and can be used on film, paper or material with aluminium laminate up to 1225mm wide.
Propak flexo machines can print up to eight colors and, can be used on film, paper or material with aluminium laminate up to 1250mm width.
Founded in 1982, Polinas produces BOPP, BOPET, CPP, metallized, coated, barrier and holographic film and tear tapes.
Polinas acquired BOPET film manufacturer Nuroll in 2011. Currently, the company produces around 20.000 tons of BOPET film per annum.
