KAP AG, a mid-sized industrial holding company listed on the stock exchange, signed a purchase agreement to acquire 100 percent of the shares in plastic specialist Haogenplast Ltd.
The transaction underscores the KAP Group's strategic focus on high-growth industrial companies in attractive niche markets and strengthens the successful segment flexible films.
Haogenplast, manufacturer and supplier of premium VINYL products
A company with registered offices in Israel, Haogenplast is a leading supplier of high-quality plastic products. It mainly produces films for swimming pools, window laminates and industrial weatherproof roofing, which are chiefly used in the construction industry. Having continuously grown faster than the market in recent years, the company is expected to generate a highly profitable revenue of around EUR 50 million in the 2021 financial year.
The closing of the transaction is subject to various customary market conditions and is expected for the beginning of the first quarter of 2022.
Eckehard Forberich, member and Spokesman of the Management Board of KAP AG:"We are very pleased to welcome Haogenplast and its employees on board the KAP Group. With Haogenplast, we are expanding our production know-how and gaining a strong brand from which we will benefit".