CMS has advised Austria's Alpla on its investment in Swedish start-up Blue Ocean Closures in a joint venture with the Glatfelter Corporation. Setterwalls reportedly advised Alpla on Swedish law-related issues. DLA Piper reportedly advised Glatfelter in Sweden.
Alpla specializes in plastic packaging solutions, producing packaging systems, bottles, caps, and injection-molded parts for a range of industries. Blue Ocean Closures develops cellulose-based biodegradable products, such as screw caps.
"We are investing continuously in the research and use of alternative, bio-based packaging materials to complement our product portfolio," Alpla’s Director of Corporate Research, Development, and Innovation Christian Zmolnig commented. "Now we are looking forward to bringing our expertise into the new cooperation with Glatfelter and BOC."
"We are pleased about the partnership with leading companies from the industry. In addition to a common vision for a sustainable future, they also bring enormous competencies in the field of production technology and materials science into our company," Blue Ocean Closures Chief Executive Officer Lars Sandberg added.
CMS previously advised Alpla on a range of deals, including the acquisition of Wolf Plastics (as reported by CEE Legal Matters on October 27, 2021), a joint venture with Ecohelp and UPT (as reported by CEE Legal Matters on October 14, 2021), the acquisition of recycling companies in Spain (as reported by CEE Legal Matters on November 22, 2019), and a joint venture for recycled plastics in Thailand (as reported by CEE Legal Matters on October 1, 2019).
The CMS team included Partners Alexander Rakosi and Dieter Zandler and Lawyer Georg Gutfleisch.
