"We are excited for our first acquisition since 2011,” says Wayne M. Hewett, chief executive officer, Klöckner Pentaplast. “With Farmamak as a local leader, this transaction allows us to improve our customer focus in Turkey and throughout the Middle East.”
Farmamak employs around 230 people, and production is located in Gebze, Turkey.
“Farmamak introduced many industry firsts and achieved sustainable growth over a number of years. I am sure that under the ownership of Klöckner Pentaplast, the business will further build on this solid heritage and see further growth,” says Mustafa Aydemir, CEO of Gözde Girişim.
Through targeted portfolio adjustments, Farmamak aims to further strengthen its position as a leading film provider in the food, consumer packaged goods and pharmaceutical segments. Together with Klöckner Pentaplast, Farmamak offers a wider range of products and comprehensive services at a local level.
The transaction is subject to approval by competition authorities. Until approval is granted, Klöckner Pentaplast and Farmamak will operate independently.