Jindal Poly Films to foray into load security films market

Jindal Poly Films today said it will acquire Netherlands-based Apeldoorn Flexible Packaging Holding B.V. Through its subsidiary in an all-cash deal, marking its foray into the load security films market.
The transaction, to be carried out through the Netherlands-based arm of Jindal Poly Films, is subject to necessary regulatory approvals and is expected to close by September 30, 2017.
"This acquisition will provide us access to load security films - a new product line and will also strengthen our relationship with brand owners in the food, beverage and FMCG segments. We remain committed to expanding our differentiated product offerings in the packaging films business globally," Rakesh Tayal, a senior executive of Jindal Poly Films, said.

Apeldoorn Flexible Packaging Holding B.V. Was significantly owned by Bencis Capital Partners, a leading European private equity firm. It had a consolidated turnover of EUR 111 million for the 12-month period ended December 2016.
In a separate regulatory filing, Jindal Poly Films informed that its Non-Executive Independent Director Sunil Kumar Agarwal has resigned from the Directorship of the company and his resignation has been accepted by the Board.