The number of shares to be offered and the price range for the offering have not yet been announced.
clikPET PET-based technology
Klöckner Pentaplast makes food packaging for cheese, bakery and snacks and confectionery, among others, including clikPET PET-based technology; Pentafood films; and partnered with Berry Plastics in 2015 to manufacture form-fill seal packaging.
The offering will be made by means of a prospectus.
Citigroup, Credit Suisse, Goldman, Sachs & Co. are acting as joint book-running managers and representatives of the Underwriters.
BofA Merrill Lynch, Baird and Jefferies are serving as joint book-running managers for the offering.
A registration statement relating to these securities has been filed with the Commission but has not yet become effective.
These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.
Copies of the registration statement can be accessed through the Commission’s website at www.sec.gov .
'Snack & Ready-to-eat'
‘Today’s consumers are changing the way they buy food, and these changes have had a major impact on the food packaging industry and packaging material suppliers,’ Klöckner Pentaplast wrote on its website.
It claims sales of over-the-counter fresh food is declining. People prefer to make quick purchases, and they want food that is already prepared and packaged.
Consumers want food to have a longer shelf life, without any loss of nutritional value or aromatic properties.
And, with a growing number of single-person households, the demand for individual packages is rising.
‘The “Snack” and “Ready-to-Eat” phenomenon is spreading to Europe,’ it added.
The company recently developed Pentafood BPET films, designed to be used in conditions as low as -20°C, for frozen food applications.