Walki Group’s Acquisition of Plasbel
May 21, 2021
Freshfields Bruckhaus Deringer has advised Walki Group, while Garrigues represented Plasbel in the transaction. Walki Group, owned by One Equity Partners, has signed a definitive agreement to acquire a majority stake in Plasbel Plásticos S.A.U., a leading Spanish producer of sustainable packaging solutions. Plasbel specialises in the production of recycled and compostable bags and flexible packaging products used in the food and retail sectors. In 2020, Plasbel generated annual sales of approximately €80 million and employed 290 people. Plasbel expands Walki’s European presence with a state-of-the-art manufacturing facility of over 30000 m2, located in Murcia, Spain, offering a broad product portfolio of food packaging solutions, in addition to recycled and compostable post-consumer films with applications in the retail and hospitality sectors. Plasbel will support the continued growth of Walki’s packaging films and pouches business and will become part of the global Consumer Packaging business area. The parties have agreed not to disclose the purchase price and terms of the transaction. Freshfields’ team advising Walki was led by partner Javier Monzón (Picture), together with senior associate Álvaro Manzanos, senior associate Carla Gómez, associate Mario Pacini and associate Iciar Herrero. Garrigues represented Plasbel with a team led by Commercial partner Octavio Llamas along with senior associate Emilio Teruel, and Tax partner Francisc Sánchez Baeza, along with senior associate Javier Lorente.