Brussels, 26 August 2022
The European Commission has approved, under the EU Merger Regulation, the acquisition of Schur Flexibles GmbH of Austria, by Apollo Capital Management L.P. of the US.
Schur Flexibles is active in the production and sale of flexible packaging products and trading of raw materials for its manufacture worldwide. Apollo Capital Management is a private equity firm investing in various industries worldwide including the chemical, real estate, insurance, paper and television production sectors. In the flexible packaging market, Apollo Capital Management controls Novolex Holdings, LLC, a producer and supplier of packaging products active predominantly in the US. The Commission concluded that the proposed acquisition would raise no competition concerns given its very limited impact on the market structure. The transaction was examined under the simplified merger review procedure. More information is available on the Commission’s competition website, in the public case register under the case number M.10839.
Source – EU Commission