UK packaging manufacturer RPC Group has completed its acquisition of Iceland-based rival Promens Group, in a deal worth 386 million euros.

The combined companies expect to turnover in excess of 2 billion euros, operate from more than 90 facilities worldwide and employ approximately 15,000 people.

According to RPC, the combination of the two businesses will create a significantly enhanced European presence in rigid plastic packaging, extending the company’s reach and capabilities across key markets.

RPC currently supplies to cosmetics firms such as M&H Group and RPC Beauté.

Jakob Sigurdsson, President and Chief Executive Officer of Promens, commented, “The combination of RPC and Promens will be a very powerful one which will undoubtedly deliver tremendous value for our customers through the enlarged Group’s enhanced product, technology and geographic reach, together with the interaction of our respective employees in sharing best practice with their vast experience in the plastics industry. This transaction is a testimony of the outstanding work of the employees of Promens over many years.”