Enhance Packaging Technologies Inc, the packaging subsidiary of DuPont Canada Inc, is set to buy out French firm Prepac. The financial details of the deal have not been disclosed, however Enhance did add that once the purchase is completed, its revenues would increase to C$500m within five years.
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Prepac is involved in the production of food and beverage pouches, and the acquisition will aid Enhance’s expansion into this fast-growth worldwide market, currently valued at C$2bn and continuing to grow at double digit rate.
The packaging pouches are particularly popular in developing countries, where they keep foodstuffs fresh for up to a year without refrigeration, and Dupont commented that through Prepac it will extend its reach into Asia and Latin America.
