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Nili Capital Partners buys Packaging

Manufacturer StePac

sraeli private equity fund, Nili towards StePac’s goal of becoming
ICapital Partners, has acquired fresh the leading global force in MAP
produce packaging manufacturer packaging solutions for fresh
StePac. The manufacturers offer a produce,” said Asaf Shachnai, CEO of
range of packaging formats for fresh StePac and MAPfresh Holdings.“Our
produce, with modified atmosphere unwavering focus on product quality,
properties for extending the shelf innovation and customer service
life of different items. The company’s drives our strong organic growth,
portfolio encompasses options and Nili will enable us to accelerate to this category. “StePac’s strong
to support different stages of the our inorganic growth as we seek management team, with more than
supply chain, including long-haul additional acquisition opportunities 25 years of experience in post-
shipments and retail shelf storage. in the industry.”Josef Mandelbaum, harvest science in the fresh produce
StePac also offers a broad range general partner with Nili, added: industry and a history of strong
of films. Under its new ownership, “Secular trends in the fresh produce innovation, secured our belief that it
StePac will form the nucleus of Nili’s industry, new post-Covid norms, was the right company to anchor our
modified atmosphere packaging and the push towards greater MAP platform.” The financial terms
(MAP) platform, MAPfresh Holdings. sustainability and environmentally of the transaction have not been
“This acquisition marks a major step friendly solutions attracted us disclosed

Coca-Cola European Partners targets the biggest emission reduction
net zero emissions by 2040 challenges but also contribute to the
green recovery.”

oca-Cola European Partners The commitments build on the work
C(CCEP) has announced a €250 undertaken over the last decade to
million investment to help meet its reduce emissions across the chain
commitment of net zero emissions by 30.5% (vs 2010) as part of This is
by 2040. The company aims to Forward, its joint sustainability plan
accelerate the decarbonisation of with Coca-Cola in Western Europe.
its business by reducing greenhouse
gas emissions across its entire As part of its move to net zero, CCEP
supply chain by 30% by 2030 (vs in the Netherlands and Norway will also invest in projects which
2019). The new targets are in line and invested in recycling start-up remove carbon from the atmosphere
with a 1.5°C pathway and the Paris Cure Technology, to support the or verified carbon offset projects.
Climate Agreement. CCEP says commercialisation of its ‘polyester Damian Gammell, CEO of Coca-
it will reduce greenhouse gas rejuvenation’ technology. In order Cola European Partners, said: “Our
emissions across all five areas of its to meet its goals, CCEP has also vision has always been to deliver
value chain: ingredients, packaging, set targets for 100% of its strategic loved brands, done sustainably, and
operations, transportation and suppliers –including key ingredients today we recognise the even greater
refrigeration. CCEP’s immediate and packaging suppliers – to set urgency to address climate change,
action plan is supported by a three- their own science-based targets one of the most serious and complex
year €250 million investment, which and use 100% renewable electricity. challenges facing society and our
includes sustainable packaging María Mendiluce, CEO of the We planet. “We have developed an
initiatives such as the progression of Mean Business coalition, said: “By ambitious plan to reduce greenhouse
its 100% rPET roadmap and investing engaging key suppliers in the shared gas emissions which uses absolute
in the scaling of depolymerisation objective of aligning with science science-based carbon reduction
technology. Earlier this year, CCEP and investing in renewable energy, targets to underpin our ambition and
transitioned to 100% rPET bottles not only will they [CCEP] tackle chart our progress.”

Food Marketing & Technology 6 December 2020