Priplak has left the Arjowiggins Group, its historical shareholder.
Priplak is a market leader in the production and distribution of Polypropylene sheets for the graphic market, with a turnover of €24 million and 60% exports.
The management team, led by its CEO Thomas Godey, has worked speedily over the past weeks to put together an offer allowing Priplak, a profitable company unaffected by the receivership proceedings filed by Arjowiggins, to be carved out from the group.
All employees and key partners (suppliers, customers and the local community) have given overwhelming support for the project, which is ambitious for both growth and jobs.
‘The existing management team and its investment partners have formed a strong and committed association, which aims to accelerate the company’s growth based on market differentiation and international development,’ said Thomas Godey.
The Priplak management team relied particularly on NCI to establish Paprika Holding, enabling them to buy Priplak’s shares and massively reinforce its capital.
‘The commitment of NCI to Priplak reflects our desire to contribute to the economic development of the region, accompanying the dedicated and ambitious team at Priplak. We are convinced by Priplak’s strategy to address new markets and sectors through international development and a strong focus on research and development,’said Anne-Cécile Guitton.
With new capital raised by Paprika Holding as well as the support of all their partners, Priplak will be free to engage in an ambitious development plan.