SCG Packaging Public Company Limited (SCGP) announced the signing of a share purchase agreement to acquire a 100% stake in Go-Pak UK Limited (Go-Pak) on November 2, 2020. The purchase will be through SCGP’s wholly owned subsidiary and the transaction details will be released upon completion, which is expected to be concluded around December 2020, upon regulatory approval in relevant countries.
Headquartered in Bristol UK with production facilities in Southern Vietnam, Go-Pak is one of leading foodservice packaging solution providers in the UK, European and North American markets from its own production and global sourcing network of related products. Foodservice packaging products are predominant in the ready-to-eat, and takeaway food & beverages business.
Go-Pak’s clients are foodservice distributors, retailers, and cash & carry wholesalers, which are in sectors such as restaurants, fast-food chains, takeaway restaurants, and catering services. These service sectors place high emphasis on hygiene, food safety, quality and consumer’s convenience, which are the global trends driving the continued growth of foodservice products, along with consumer active lifestyle.
SCGP possesses facilities in Malaysia and Thailand which manufacture foodservice packaging, with key markets in ASEAN and Japan. This acquisition of Go-Pak is an expansion of SCGP’s foodservice packaging business which will elevate its consumer platform and give access to Go-Pak’s client base in the UK, Europe and North America. This will also broaden SCGP’s total packaging solutions and strengthen its production capabilities to grow the ASEAN market.
Since founded in 2009, Go-Pak has grown rapidly in the past 5 years. On a last twelve months basis, Q4/2019-Q3/2020, Go-Pak recorded revenue of 68.7 million GBP (approximately 2,800 million Baht), and had assets of 40.7 million GBP (approximately 1,650 million Baht) at the end of Q3/2020. Go-Pak’s annual capacity is 4 billion units of foodservice packaging products, which include a broad range of over 250 product categories.
SCGP is the largest comprehensive packaging solutions provider in ASEAN offering fiber-based packaging, performance & polymer packaging and other diversified solutions with over 40 facilities across Vietnam, Indonesia, Malaysia, the Philippines and Thailand.