One51 has completed the acquisition of a majority stake (67%) in the Canadian plastics company, IPL, after receiving the necessary regulatory clearances this week.
One51 has paid €201m for its majority stake in IPL but say the acquisition will significantly increase group revenues from €276m to €450m while also extending the company’s international reach.
IPL was founded in 1939 and operates five production facilities located in Canada and the US. The company manufactures over 400 types of plastic products including wheelie bins for the North American market and the business has significant overlap with One51’s own plastics division, which already has operations in Ireland, the UK and China.
ADVERTISEMENT
One51 already produces plastic containers for the agricultural and paint industries as well as manufacturing products for companies involved in the nutrition, pharma and tech sectors. However, his acquisition will enable One51 to further move into the food sector, as IPL already supplies food packaging to a number of major US food and beverage companies such as Proctor & Gamble, Kellogg’s and Kraft.
For One51, the acquisition provides synergies and cost savings, particularly when purchasing raw materials, while also allowing it to provide a broader product offering to customers.
This content is available to digital subscribers and loyalty code users only. Sign in to your account, use the code or subscribe to get unlimited access.
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
CODE ACCEPTED
You have full access to the site until next Wednesday at 9pm.
CODE NOT VALID
Please try again or contact support.
One51 has completed the acquisition of a majority stake (67%) in the Canadian plastics company, IPL, after receiving the necessary regulatory clearances this week.
One51 has paid €201m for its majority stake in IPL but say the acquisition will significantly increase group revenues from €276m to €450m while also extending the company’s international reach.
IPL was founded in 1939 and operates five production facilities located in Canada and the US. The company manufactures over 400 types of plastic products including wheelie bins for the North American market and the business has significant overlap with One51’s own plastics division, which already has operations in Ireland, the UK and China.
One51 already produces plastic containers for the agricultural and paint industries as well as manufacturing products for companies involved in the nutrition, pharma and tech sectors. However, his acquisition will enable One51 to further move into the food sector, as IPL already supplies food packaging to a number of major US food and beverage companies such as Proctor & Gamble, Kellogg’s and Kraft.
For One51, the acquisition provides synergies and cost savings, particularly when purchasing raw materials, while also allowing it to provide a broader product offering to customers.
If you would like to speak to a member of our team, please call us on 01-4199525.
Link sent to your email address
We have sent an email to your address. Please click on the link in this email to reset your password. If you can't find it in your inbox, please check your spam folder. If you can't find the email, please call us on 01-4199525.
ENTER YOUR LOYALTY CODE:
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
SHARING OPTIONS