Irplast Acquired by TOPPAN in Strategic Move
Deal News | Apr 01, 2025 | Legal Community Italy
TOPPAN Holdings Inc., through its subsidiary TOPPAN Speciality Films Private Limited based in India, has signed a binding agreement to acquire an 80% stake in Irplast S.p.A., an Italian producer of high-performance BOPP films. The current majority shareholder, Cheyne European Strategic Value Credit S.A.R.L. 2, a Luxembourg entity controlled by UK-based Cheyne Strategic Value Credit, will relinquish control as a result of this transaction. The acquisition aims to integrate Irplast’s advanced manufacturing technologies into TOPPAN's portfolio to offer innovative solutions tailored to customer needs. Legal advisory for the transaction was provided by Bird & Bird and Shardul Amarchand Mangaldas & Co. on behalf of TOPPAN, and by Chiomenti for Cheyne SVC. BonelliErede advised the management team of Irplast.
Sectors
- Manufacturing
- Private Equity
- Legal Services
- Specialty Chemicals
Geography
- Italy – Irplast S.p.A., the target company, is based in Italy.
- India – TOPPAN Speciality Films Private Limited, the acquiring subsidiary, is based in India.
- Japan – TOPPAN Holdings Inc., the parent company, is headquartered in Japan.
- United Kingdom – Cheyne Strategic Value Credit, the majority shareholder being divested, is a British investment fund.
Industry
- Manufacturing – Irplast S.p.A. is a manufacturer of BOPP films, which are used in various industrial applications.
- Private Equity – The acquisition involves Cheyne Strategic Value Credit, a private equity entity.
- Legal Services – Multiple legal firms are involved in advising the parties on corporate and regulatory aspects of the acquisition.
- Specialty Chemicals – TOPPAN Speciality Films, a subsidiary involved in the acquisition, operates in the specialty films segment.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Irplast S.p.A. | Target Company | Company | An Italian producer of high-performance BOPP films. |
| Cheyne Strategic Value Credit S.A.R.L. 2 | Selling Company | Company | The current majority shareholder of Irplast, controlled by UK-based Cheyne Strategic Value Credit. |
| TOPPAN Holdings Inc. | Bidding Company | Company | A Japanese multinational printing company acquiring an 80% stake in Irplast. |
| Bird & Bird | Legal Advisor | Legal Services | Provided corporate legal advice to TOPPAN. |
| Shardul Amarchand Mangaldas & Co. | Legal Advisor | Legal Services | Assisted TOPPAN with legal aspects in India. |
| Chiomenti | Legal Advisor | Legal Services | Advised Cheyne Strategic Value Credit on the transaction. |
| BonelliErede | Legal Advisor | Legal Services | Advised the management of Irplast. |