Walki Group has signed a definitive agreement to acquire 100 % of the shares in Westpak Oy Ab and Flexipack Oy Ab. For years, these two companies form an integrated value chain, providing high-quality flexible packaging solutions to leading Nordic food brands.
In 2021 Flexipack and Westpak generated combined sales of about EUR 40 million. Together they are employing some 100 employees. Westpak is based in Säkylä, Finland, whilst Flexipack production facility is located in Vaasa, Finland.
“With this acquisition, we continue to implement our strategy to expand our offering of more sustainable packaging alternatives by leveraging on our strong material science know-how. Flexipack and Westpak have a very complementary offering of high-quality printed products and a proven commitment to dedicated customer service” says Leif Frilund, President and CEO of Walki Group. “I would like to warmly welcome the employees of Westpak and Flexipack to become part of our multinational organization. We are looking forward to broadening our customer relationships and enhancing our manufacturing presence as we work together to strengthen our position as an industry leader.”
“We are pleased to join forces with the Walki team, who values the history of our entrepreneurial driven business and is committed to our companies’ long-term growth, We believe that by combining our market knowledge and customer focus with Walki’s strong R&D capabilities and European footprint, we can provide even stronger benefits to our customers and a successful future for our employees,” say Jonas Skuthälla , Managing Director of Westpak and Stefan Söderlund, Managing Director of Flexipack .
Flexipack and Westpak will support the continued growth of Walki’s flexible packaging business and will become part of the global Business Area Consumer Packaging.
The transaction is pending upon approval from the relevant competition authorities. The parties have agreed not to disclose the purchase price or the terms of the transaction.