Page 59 - Plastics News - January 2024

Packaging industry shifts: a roundup of the biggest deals in 2023
This strategic investment completes
SK Chemicals’ recycled plastic value
chain, from chemically recycled BHET
to PET and copolyester.
By strategically producing recycled
plastic raw materials in China, SK
Chemicals enhances its price compet-
itiveness, laying the groundwork for
new growth and securing the sustain-
ability of its core business.
Bobst’s technological leap

April 2023 witnessed Swiss company
Bobst acquire a majority stake (70%)

he packaging industry in 2023 was bolstered Stora Enso’s corrugated in Dücker Robotics, an Italian firm
Tdefined by bold strategic moves, packaging capacity, setting the stage specialising in robotic systems for the
reflecting a concerted effort among for enhanced market influence. corrugated board sector.
industry giants to navigate challenges Additionally, Stora Enso’s sale of its Beyond the undisclosed financial in-
and leverage opportunities. vestment, this strategic move posi-
paper production site in Maxau, Ger-
The packaging industry experienced many, for around €210m ($230m) in tions Bobst at the forefront of pack-
a dynamic landscape in 2023, marked March demonstrated a focused ap- aging manufacturing innovation.
by strategic manoeuvres and deals proach, streamlining operations and By integrating anthropomorphic ro-
among major players. This compre- capitalising on strategic opportunities. bots and fostering synergies with
hensive roundup sheds light on the Sealed Air’s sustainable leap Dücker Robotics, Bobst aims to mod-
significant acquisitions and divesti- ernise packaging production lines,
tures that reshaped the industry, pro- In February, US-based Sealed Air accelerate leadership in printing and
viding insights into the motivations (SEE) acquired flexible packaging converting, and pioneer novel solu-
and implications of each move. firm Liquibox for $1.15bn. Liquibox’s tions for evolving customer needs.
focus on sustainable packaging solu-
The industry in 2023 was defined by tions, including Bag-in-Box, aligns Smurfit Kappa’s landmark acquisition
bold strategic moves, reflecting a con- with SEE’s commitment to environ- of Westrock
certed effort among industry giants mental responsibility. This strategic In September 2023, Smurfit Kappa
to navigate challenges, leverage op- move not only propelled the growth orchestrated a game-changing deal,
portunities, and position themselves of SEE’s CRYOVAC brand but also agreeing to acquire Westrock in a
for a future shaped by innovation and positions the company as a key player landmark agreement, estimated to be
sustainability. in providing eco-friendly packaging worth $11.2bn This move established

Stora Enso’s strategic moves solutions across fresh food, beverage, the ‘Smurfit WestRock’ holding com-
January saw Stora Enso’s strategic ac- consumer goods, and industrial end pany, with Smurfit Kappa sharehold-
quisition of De Jong Packaging Group markets. ers commanding 50.4%.
for €1.02bn, fortifying its position in SK Chemicals’ green initiative The strategic merger, set to conclude
the European packaging markets. in Q2 2024, promises a synergistic
In March, SK Chemicals made waves
The deal, concluded after regulatory with a $100m asset transfer agree- powerhouse headquartered in Dub-
clearances, amplified Stora Enso’s ment, acquiring the chemically recy- lin, Ireland. The deal not only con-
footprint in the Netherlands, Belgium, cled BHET and PET business division solidates market influence but also
Germany, and the UK. Beyond ex- of Shuye, a Chinese company special- propels the newly formed entity into
panding the portfolio, the acquisition ising in green materials. a position of strength in the global

PLASTICS NEWS 5959
January 2024 PLASTICS NEWS