TOPPAN has entered into a definitive agreement to acquire 80% of the issued shares of Italian based BOPP film manufacturer Irplast from the current majority shareholder, investment fund Cheyne Strategic Value Credit.
According to TOPPAN, Irplast manufactures BOPP films using simultaneous biaxial orientation technology, said to offer ‘superior’ transparency, durability, and processability; contribute to reducing environmental impact and improving recyclability; and deliver products used in fields including packaging and labels for food, personal and home care.
The TOPPAN Group plans to integrate Irplast’s manufacturing technologies for high-performance BOPP films to develop and deliver solutions that meet various customer needs. The Group adds that this acquisition aligns with its strategic goals of realizing a sustainable society.
“This acquisition represents a significant step forward in TOPPAN’s business growth and technological innovation in the film business. By incorporating the advanced technologies and expertise of Irplast, we are confident that we can further enhance our sustainable solutions,” said Hiroshi Suzuki, executive officer of the TOPPAN Group leading the global film business.
Last year the TOPPAN Group received net-zero target validation from the Science Based Targets initiative (SBTi) for its greenhouse gas (GHG) emission reduction targets for the entire value chain, including Scope 1, 2, and 3 emissions. The company’s newly approved GHG emission reduction targets include a long-term target of net zero Scope 1, 2 and 3 GHG emissions by 2050.
In December 2024 Toppan Holdings Inc. acquired Sonoco’s Thermoformed & Flexible Packaging (TFP) business, intending to expand its sustainable packaging business into the Americas. The acquisition aimed to apply Toppan’s technical and manufacturing capabilities to the sales network, customer base, and solution development capabilities of Sonoco’s thermoformed and flexible packaging in North and South America.
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