Toppan (TYO: 7911), a global leader in communication, security, packaging, décor materials, and electronics solutions, entered into a share transfer agreement with Majend Makcs Co., Ltd. (Majend Makcs), a manufacturer and supplier of flexible packaging headquartered in Ayutthaya, Thailand, on March 31, 2022. Procedures to make Majend Makcs a consolidated subsidiary of Toppan are scheduled to be completed in May 2022. The acquisition will enable Toppan to produce flexible packaging in Thailand for supply to markets in Europe, North America, and Southeast Asia.
Toppan set out a key concept of “Digital & Sustainable Transformation” in the Medium Term Plan (April 2021 to March 2023) published in May last year. Priority measures identified include meeting sustainability-related demand and accelerating establishment of a network facilitating local production for local consumption.
Toppan has expanded its packaging business in Asia, including Indonesia, Thailand, and China, and is strengthening global production and sales with an eye on North America, Europe, and Latin America. Toppan bolstered its capability to manufacture and supply transparent GL BARRIER1 film for markets in North America and Europe with the launch of Toppan USA’s Georgia Plant in April 2016 and acquired the InterFlex Group, a packaging manufacturer with locations in the United States and United Kingdom, last year. Most recently, Toppan has also made leading Indian film producer Max Speciality Films a consolidated subsidiary.
Majend Makcs was founded in Thailand in 2002 and manufactures and sells flexible packaging for food, consumer, and medical goods. Thailand is a major production location for global food and consumer brands serving North American, European, and Southeast Asian markets. By acquiring Majend Makcs, Toppan will be able to produce and provide its sustainable packaging to leading markets as it aims to be a global packaging provider, delivering an end-to-end service throughout the world from manufacture of barrier films and other packaging materials to supply of finished products.
It has become essential for global brands with worldwide businesses to address the environmental impact of their products. Thailand, where a large number of such brands have bases producing goods supplied to Europe, North America, and Japan, is also expected to see increased demand for more eco-friendly packaging and advanced functionality. Synergies generated by the acquisition of Majend Makcs are expected to include enhancing the Toppan Group’s global supply capability for sustainable packaging. This will be achieved by leveraging Majend Makcs as a base for the manufacture of sustainable packaging that takes advantage of Toppan products such as barrier film for functional mono-material packaging, part of the GL BARRIER lineup.
In addition, sharing and combining Majend Makcs’s flexible packaging production technology and know-how with Toppan’s converting technologies centered on GL BARRIER, while collaborating on raw material sourcing, will drive enhanced productivity and a stable procurement system to strengthen price competitiveness. Majend Makcs will also function as a hub for development and analysis of customer and technology trends in the global market.
“We are very excited to have Majend Makcs joining the Toppan Group,” said Masahiko Tatewaki, Managing Executive Officer of Toppan’s Global Packaging business. “Not only does it afford us greater capacity to manufacture and market more price-competitive packaging materials to customers throughout the world, but also strengthens our ability to meet the sustainable packaging needs of global brands and of society as a whole.”
