Thursday, 04 Jul 2019 08:48 GMT

Priplak splits from Arjowiggins

Polypropylene sheets specialist Priplak has left the Arjowiggins Group, its historical shareholder, in order to pursue a new path of business growth.

Priplak, which has a turnover of around €24m (£21.5m), is unaffected by the receivership proceedings filed by Arjowiggins, and will now be able to push ahead with its own plans separate from the group.

Thomas Godey, chief executive of Priplak, put together an offer to allow the business to split from Arjowiggins. The business will be able to use new capital from Paprika Holdings to support this strategy.

“The existing management team and their investment partners have formed a strong and committed association, which aims to accelerate the company’s growth based on market differentiation and international development,” Godey says.

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