Dublin-headquartered IPL, which makes rigid-plastic products, has agreed a deal to merge with Schoeller Allibert, a manufacturer of reusable transport packaging.
IPL said the proposed deal will create an international sustainable packaging producer with a manufacturing footprint in 27 locations across Europe, the UK and North America, and a combined annual revenue of over $1.4 billion last year.
The merged company will be headquartered in Dublin and will be led by IPL's CEO Alan Walsh.
The transaction is expected to close in the third quarter of 2025 - subject to customary closing conditions.
IPL has about 2,500 employees across 16 manufacturing sites and it reported revenues of $822m in 2024. It mainly manufactures sustainable, rigid-plastic products for the food, consumer, environmental and agriculture sectors, largely in North America, with significant manufacturing operations in the UK.
Headquartered in the Netherlands, Schoeller Allibert about 1,600 employees across 11 production locations and it had revenue of €550m in 2024.
It makes returnable transport packaging and provides related services, serving customers across sectors such as automotive, beverage, food, pharmaceuticals, cosmetics, retail and material handling, mainly in Continental Europe.
IPL is owned by investment funds managed by Madison Dearborn Partners, a private equity investment firm based in Chicago, and CDPQ, a global investment group.
Schoeller Allibert is owned by Brookfield Asset Management's private equity business and the Schoeller family.
The new company will be 55% owned by the existing IPL shareholders and 45% owned by the existing Schoeller Allibert shareholders.
IPL CEO Alan Walsh said the future of packaging lies in sustainability, innovation and adaptability.
"This merger will allow IPL and Schoeller Allibert to combine our strengths on both sides of the Atlantic to meet that future together," Mr Walsh said.
"With an unwavering commitment to innovation, we will not only enhance the way we serve our customers but also optimise the skillsets of both companies to build a strong, resilient foundation for growth," he added.
Schoeller Allibert CEO Alejandro Cabal Uribe said the combined strength in packaging solutions is well positioned to benefit from the tailwinds for the sector, driven by corporate sustainability ambitions and evolving regulations to improve value chains and reduce the environmental impact of packaging waste.
"We look forward to together delivering leading customer service and innovative global solutions," he added.
