The company operates 2 divisions: (1) Pharma, Health & Protection and Durables (PHD); (2) Food Packaging (FP). However, in 2025, the company filed for a prepackaged Chapter 11 bankruptcy protection as part of a restructuring plan to eliminate the majority of its $1.5 billion debt. The company's sustainability strategy includes ten clear targets focused on increasing recycling and recyclability of products, cutting carbon emissions, and improving employee engagement, safety, and diversity.
Cyborg Score Rationale
The company filed for Chapter 11 bankruptcy in 2025 to restructure approximately $1.5 billion in debt, indicating significant financial distress. While the company maintains global market leadership and established customer relationships, debt burden and operational challenges have severely constrained financial flexibility.
Top Insights
Filed prepackaged Chapter 11 bankruptcy in November 2025 to eliminate majority of $1.5 billion debt
Debt burden of €1.85 billion maturing in 2026, combined with customer destocking from 2021 onward and spike in raw material and energy costs, severely compressed profit margins and strained liquidity
Company offers barrier performance, recyclability, and regulatory compliance enabling packaging markets to enhance product safety, sustainability, and circular economy integration
Acquired LINPAC Group in 2017, significantly increasing revenue, employee base, and geographic presence in Europe
Named Competitors
Südpack Verpackungen — Flexible and rigid plastic packaging solutions
Bischof + Klein — Flexible packaging and film manufacturer