Home Sectors CONSUMER GOODS Thailand's SCG Packaging acquires UK's Go-Pak
Thailand's SCG Packaging acquires UK's Go-Pak
The UK's largest manufacturer and importer of disposable food service products, Go-Pak, has announced that it has been acquired by Thailand-based packaging producer SCG Packaging (SGCP).
SCG Packaging
SCGP has acquired 100% of Go-Pak UK, as well as its manufacturing subsidiaries in Vietnam. As part of the deal, Go-Pak will maintain its current management, operations, customers, and brand identity and will continue to operate as business as usual, but with "an enhanced product offering and further market development."
The sum of the transaction was not disclosed.
SCGP was established in 1975 as a subsidiary of Siam Cement Group - Thailand's second-largest company - which itself is majority-owned (33.6%) by the Crown Property Bureau, a quasi-government agency that oversees the property of the country's monarchy, and one which, following a change in the law, King Maha Vajiralongkorn was granted full, personal ownership of in 2018.
Since being founded, SCGP has expanded across South East Asia and in 2019 saw sales of $2.8 billion (€2.39 billion).
The Go-Pak acquisition is part of the Thai packaging company's expansion drive into the UK, European and North American markets.
Wichan Jitpukdee, CEO of SCGP said: "We are extremely pleased to collaborate with Go-Pak, our new partner with whom we look forward to working together to grow in the European market as well as expand the business in the United States, as we plan to build upon this impressive platform and strong B2B2C focus. We welcome their knowledge, flexibility and creativity to our business."
Go-Pak was established in 2009 and over the following ten years saw an impressive compound annual growth rate of 45%, reaching revenues of £68.7 million (€76.39 million)
Simon Lawley, Go-Pak founder said: "Go-Pak has found the perfect home in joining together with SCG Packaging. Go-Pak has achieved so much as an independently-owned business over the past 11 years. It has been a great journey so far, and our growth strategy and potential will continue to flourish as part of the SCG family. Not only does this make Go-Pak stronger, but it will also allow the business to maximise its full potential as part of SCG Packaging."
Adam Anderson, Go-Pak Managing Director said: "Joining the SCG family of businesses is a very exciting prospect for Go-Pak. Not only does this mean a continuation of the great service for our customers, but being part of such a large integrated packaging group will enable us to offer further international support and a wider product range for our current and future customers in the UK, Europe and US."
Back to Consumer Goods
Packaging UK Go-Pak Thailand Mergers & Acquisitions SCG Packaging Siam Cement Group (SCG)