US plastic film manufacturer Tredegar has finalised the sale of its Brazilian flexible packaging films business, Terphane, to Peruvian flexible packaging solutions company Oben Group.
The transaction, which was initially agreed upon on 1 September 2023, concluded with a net cash-free and debt-free base consideration of $116m.
This acquisition marks a strategic milestone in Oben Group’s mission to enhance its manufacturing capabilities and expand its presence in relevant global markets.
The integration is also expected to enhance operational efficiency and facilitate market growth.
With advanced production facilities, Terphane has been offering polyester films to its customers in more than 30 countries worldwide.
Tredegar president and CEO John Steitz said: “The sale of Terphane completes a strategic goal that we’ve been working on for well over a year. We believe that Terphane will have greater scale and growth opportunities with Oben, a global player in the highly competitive flexible films industry.
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“We wish the best for the employees and stakeholders of Terphane and Oben.”
With approximately 1,500 employees, Tredegar operates manufacturing facilities across North America and Asia.
The company’s core businesses include custom aluminium extrusions for various markets and surface protection films for high-technology applications.
Oben Group CEO Gonzalo Belaunde said: “We are pleased to complete the acquisition of Terphane. We believe that combining our capabilities will improve the service and quality provided to our customers and markets. We welcome Terphane to the Oben team.”
Oben has over three decades of experience and operates in more than 17 countries, providing a diversified portfolio of flexible films.
The company offers extrusion-coated and thermoformed products.
