TURNHOUT, Belgium – Miko, the Euronext-listed specialist in coffee service and plastic packaging, announces that Miko Pac’s takeover by PACCOR, which was publicised on 31 March 2021, has been approved by the competition authorities. Miko Pac is now 100 % owned by the German packaging group.
Karl Hermans and Kristof Michielsen, both directors of Miko Pac, confirm: “We are grateful for the interest and belief PACCOR has shown in Miko Pac, and we consider our cooperation as an important milestone for our company. We are confident that they will help achieve healthy growth.”
Frans Van Tilborg, CEO of the Miko Group, adds: “Now that the sale has been completed, Miko will fully focus on the coffee service business. Our aim will be to respond not only to all internal, but certainly also external growth opportunities.”
Miko has been active in coffee service for over 200 years and in plastic packaging for some 45 years now, and was floated on Euronext Brussels in 1998.
Miko follows a “two-pillar strategy” in which its core activities – coffee service and plastic packaging – are practically independent entities with their own management, so that each activity can follow its own growth path.
The Group posted a turnover of EUR 195.1 million in 2020, with the coffee service and plastics processing division accounting for respectively 45.1 % and 54.9 % of this figure.
Miko is an international group with companies in Belgium, France, UK, the Netherlands, Germany, Denmark, Norway, Sweden, Poland, the Czech Republic, Slovakia, Indonesia and Australia.