International packaging company for sale

A leading international packaging company is to be sold, it has been announced.

Faerch Plast, a Denmark-based company, announced through its holding company Faerch Holding that it had started the process to find a buyer.

Chairman of Faerch Holding's board Niels Kornerup said: “The board has found that it is its duty that we now investigate the possibilities of a sale. The controlling shareholders have previously made an attempt to create a more united, active ownership that might form the basis of succession. Apparently that has not been possible.” It was also stated that the company had more potential to be a bigger player in the food industry.

It is the company’s foundations as a family-owned business that have had an effect on its future and Kornerup noted that it would become harder to “hold it together” as a business when the company moves into the sixth and seventh generations. He said this would be “undesirable for the owners” and be bad for the business and the company’s assets.