BY Fraser Tennant
With the support of new ownership and a significantly strengthened financial foundation, plastic packaging products manufacturer Klöckner Pentaplast (kp) has successfully completed its restructuring and emerged from Chapter 11 bankruptcy.
The company’s exit from Chapter 11 – a process commenced after the company entered a restructuring support agreement with most of its financial stakeholders in November 2025 – follows an injection of €349m in new capital as part of its plans to stabilise ongoing operations.
With the financial restructuring process concluded, kp emerges having eliminated approximately €1.3bn of funded debt. Thus, with a significantly strengthened balance sheet and enhanced financial flexibility, kp enters its next phase with confidence and is well prepared to drive results.
“We emerge from the Chapter 11 process as a financially stronger company,” said Roberto Villaquiran, chief executive of kp. “I am energised by the opportunities ahead, and I am highly confident that our talented teams will continue to build on our leading product portfolio and global presence.”
In connection with its emergence, kp has executed a transition of ownership of the company to a group of its financial partners led by funds affiliated with Redwood Capital Management, LLC. The new ownership structure has seen Mr Villaquiran and Michael Kaufman, a partner at Redwood Capital Management, appointed to kp’s board of directors, while industry leader Andrew Berlin is expected to be appointed to the board as chairman in the near term.
“We are grateful for the support of our new owners, who continue to demonstrate their confidence in our business and future prospects as we deliver innovative and sustainable packaging and film solutions to customers globally,” added Mr Villaquiran.
Founded in 1965, kp has 27 plants in 16 countries and employs over 5000 people committed to serving customers worldwide in over 60 locations. Having celebrated its 60th anniversary in 2025, the company remains focused on meeting and exceeding customer expectations with agility and excellence, while helping support the transition to a more circular economy.
I am proud of our dedicated employees for their relentless commitment to providing excellent service for our customers,” concluded Mr Villaquiran. “We also appreciate our global customers, vendors, suppliers and business partners for their tremendous support, and look forward to working together as we embrace a new chapter of partnership and value creation.”
News: Klöckner Pentaplast cuts €1.3bn in debt through Chapter 11 restructuring