Paccor acquires Miko Pac

Paccor (Dusseldorf) has signed an agreement for the acquisition of Miko Pac (2020 revenue €100 million), the packaging division of Miko NV, Belgium. The deal strengthens the German group’s position in the field of injection moulding by complementing its product portfolio and extending its international reach, particularly in the Asian market.

Miko Pac, founded more than 45 years ago, is a global producer of plastic packaging solutions for ready meals, ice cream, margarine and other products. It employs around 500 people at its production sites in Belgium, Poland and Indonesia and at its sales offices in France and Germany and specialises in thermoforming, injection moulding and in-mould labelling. Its operational management will remain in the hands of its former co-owners and managing directors, Kristof Michielsen and Karl Hermans.

“Following the purchase of Spanish firm EDV Packaging Solutions in 2019, our acquisition of Miko Pac is the logical next step in implementing our M&A strategy,” said Andreas Schütte, CEO of Paccor. “Miko Pac’s innovative capabilities will add value to our business and further strengthen our ability to meet the needs of our customers.”

The acquisition is expected to be completed in the second quarter of 2021, after approval by the relevant competition authorities.