Norwegian liquid food packaging manufacturer Elopak is taking a new step in its development with its IPO in June.
"The time was right for Elopak to raise more capital. The goal is to broaden the shareholder base and give Elopak greater financial flexibility to facilitate its continued growth." commented Trond Solberg, co-manager of Ferd Capital, the Norwegian investment fund that owns Elopak.
He adds that this will give Elopak the financial strength to consolidate its position in its existing markets and expand into new markets, both geographically and in the form of new customer categories.
Nippon Paper Industries takes a 5% stake in Elopak
Paper group Nippon Paper Industries has announced it will take a 5% stake in Elopak. The two companies had previously signed an agreement in 2016, allowing Nippon Paper Industries to manufacture and market Pure-Pak carton packaging solutions in Japan.
In early June, Elopak also introduced the Pure-TwistFlip, its new interlocking closure system for Pure-Pak cartons. This solution is designed to allow the cap to remain attached to the packaging throughout its life, and the cardboard can be recycled with the cap.
Founded in Norway in 1957, Elopak employs 2,600 people and sells more than 14 billion carton packs each year in more than 70 countries. The company, which operates in Europe and North America, had revenues of ?909 million in 2020.
