SCG Packaging Public Company Limited, SCGP has signed a share purchase agreement to acquire a 100% stake in Go-Pak UK Limited, one of leading foodservice solution provider in the UK, European and North American markets with its production facilities in Southern Vietnam. This acquisition will allow SCGP to grow strongly in food service packaging and access to Go-Pak’s existing client base in UK, Europe and North America, and in support of the global trends and consumer active lifestyle.
Mr. Wichan Jitpukdee, Chief Executive Officer, SCG Packaging Public Company Limited, SCGP said “SCGP has signed a purchase agreement to acquire a 100-percent stake in Go-Pak UK Limited (Go-Pak) on November 2, 2020, whereby the transaction is expected to be concluded around December 2020, upon regulatory approval in relevant countries. This acquisition will lead SCGP to grow the foodservice packaging business and increase its revenue approximately 2,800 million baht/year”
Headquartered in Bristol, United Kingdom, with production facilities in southern Vietnam, Go-Pak is one of the leading foodservice packaging solution providers in the UK, European and North American markets from its own production base and global sourcing network of related products. Foodservice packaging products including plate, spoon, fork, and cup made of polymer, paper as well as other biodegradable materials are predominant in the ready-to-eat, and takeaway food & beverages business. Go-Pak’s clients are foodservice distributors, retailers, and cash & carry wholesalers, which are in sectors such as restaurants, fast-food chains, takeaway restaurants, and catering services. These food service sectors place high emphasis on hygiene, food safety, quality, and consumer convenience.
“The global trends drive the continued growth of foodservice packaging products, along with consumer active lifestyle. At present, SCGP possesses facilities in Malaysia and Thailand which manufacture foodservice packaging, with key markets in ASEAN and Japan. The acquisition of Go-Pak will further elevate SCGP’s consumer platform, strengthen its foodservice production capability for both in and out of ASEAN, while expanding the market coverage into the UK, Europe, and North America markets. The transaction is in line with the strategy of expanding the client base who are manufacturers of food and consumer products and increasing the capability for downstream packaging production to reinforce the company’s strength as the leader in integrated packaging solutions provider.” Mr. Wichan added.
Since founded in 2009, Go-Pak has grown rapidly in the past 5 years. On a last twelve months basis, Q4/2019-Q3/2020, Go-Pak recorded revenue of 68.7 million GBP (approximately 2,800 million Baht), and had assets of 40.7 million GBP (approximately 1,650 million Baht) at the end of Q3/2020. Go-Pak’s annual capacity is 4 billion units of foodservice packaging products, which include broad range of over 250 product categories.
SCGP’s information
SCG Packaging Public Company Limited, SCGP, is the largest comprehensive packaging solutions provider in ASEAN, offering fiber-based packaging, performance & polymer packaging, and other diversified solutions with over 40 facilities across Vietnam, Indonesia, Malaysia, the Philippines, and Thailand. The company’s total revenue in first nine months of 2020 is 69,190 million baht.