— By PIE staff — 

German investment company Blue Cap (Munich; www.blue-cap.de) plans to sell all its shares in Con-Pearl (Geismar, Germany; www.con-pearl.de) to film manufacturer Inteplast (Livingston, New Jersey, USA; www.inteplast.com) for a high double-digit million-euro sum. The transaction is expected to be completed in the third quarter, according to the seller.

Con-Pearl – formerly Friedola Tech – manufactures films and sheets that are used as lightweight solutions, particularly in transport and storage packaging. Its range of services also includes the processing and compounding of plastics such as polyethylene, polypropylene, polystyrene, and ABS.

Blue Cap acquired the company in 2019 and expanded it through targeted expansion into the US. With locations at Geismar, Leinefelde (Germany), and Greenville (South Carolina, USA), and with 275 employees, the company generated sales of EUR 71 mn last year and, a “significant” double-digit EBITDA margin, according to the company.

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With the acquisition of Con-Pearl, Inteplast is pushing ahead with its expansion into Europe, after the US group recently announced the takeover of film manufacturer Perga (Walldürn, Germany; www.perga.com). For Inteplast, with over 50 branches, around 8,000 employees, and annual sales of USD 3.45 bn (EUR 2.95 bn), the acquisition of Perga marked its entry into the European market.