LONDON — January 30, 2026
Executive Summary
Klöckner Pentaplast, a global producer of rigid and flexible packaging and specialty film solutions, has announced the successful completion of its financial restructuring and emergence from a court-supervised process under Chapter 11 of the U.S. Bankruptcy Code. The Company stated that the restructuring has resulted in a significantly strengthened balance sheet, enhanced financial flexibility, and new ownership support, positioning it to continue serving customers and advancing innovation across its global markets. According to the Company, the restructuring eliminated approximately €1.3 billion of funded debt and was supported by €349 million in new capital. With the process concluded, Klöckner Pentaplast enters its next phase with a revised capital structure and governance framework intended to support long-term operations, investment priorities, and sustainable growth initiatives worldwide.
Announcement Overview
Klöckner Pentaplast announced that it has successfully completed its financial restructuring process and has formally emerged from the U.S. Chapter 11 proceedings. The Company stated that the completion of the court-supervised process marks a significant milestone in its corporate trajectory, providing a more resilient financial foundation and increased flexibility to support its business strategy.
The restructuring process was undertaken with the objective of addressing the Company’s capital structure while maintaining continuity of operations across its global footprint. According to the Company, the process was completed with the support of its financial partners and resulted in a substantial reduction of funded debt, alongside an infusion of new capital. Throughout the restructuring period, Klöckner Pentaplast continued to operate as a going concern, serving customers across its core end markets without interruption.
With the restructuring concluded, the Company stated that it is positioned to continue delivering its portfolio of packaging and film solutions, while advancing innovation and sustainability initiatives across regions. The Company emphasized that the strengthened balance sheet is intended to support long-term operational priorities rather than near-term financial restructuring objectives.
Key Announcement Details
- Announcement type: Completion of financial restructuring
- Process: Court-supervised restructuring under U.S. Chapter 11
- Debt reduction: Approximately €1.3 billion of funded debt eliminated
- New capital: €349 million received in connection with the process
- Ownership: Transition to a group of financial partners led by funds affiliated with Redwood Capital Management, LLC
- Headquarters referenced: London
- Global operations: 27 plants across 16 countries
- Workforce: Over 5,000 employees worldwide
Financial Restructuring Outcome
According to the Company, the completion of the restructuring process resulted in the elimination of approximately €1.3 billion of funded debt from its balance sheet. This reduction was accompanied by €349 million in new capital received as part of the restructuring, which the Company stated further supports its ongoing operations and strategic initiatives.
The Company described the outcome as materially strengthening its financial position and enhancing flexibility to manage operations and investments. With the revised capital structure in place, Klöckner Pentaplast stated that it is better positioned to navigate market conditions and support its long-term objectives across its global business lines.
The restructuring was conducted through a court-supervised process to ensure an orderly resolution with stakeholders. According to the Company, this approach enabled alignment among creditors, new owners, and management, while preserving the operational continuity of the business throughout the proceedings.
Ownership Transition and Capital Support
In connection with its emergence from Chapter 11, Klöckner Pentaplast executed a transition of ownership to a group of its financial partners led by funds affiliated with Redwood Capital Management, LLC. The Company stated that this ownership structure provides long-term capital support and alignment with its strategic priorities.
According to the Company, the new ownership group has demonstrated continued confidence in the business and its prospects, as evidenced by the capital provided in connection with the restructuring. The Company indicated that the ownership transition is intended to support stability and long-term investment rather than near-term financial engineering.
The Company noted that its relationship with its financial partners is expected to support governance, strategic oversight, and capital allocation as it enters its next phase of operations.
Leadership Commentary
Roberto Villaquiran, Chief Executive Officer of Klöckner Pentaplast, commented on the Company’s emergence from the restructuring process, stating that the completion of the process represents a new phase for the business.
“Today represents the next exciting phase in kp’s journey, as we emerge from this process as a financially stronger company,” said Roberto Villaquiran. “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. 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.”
Mr. Villaquiran also acknowledged the contributions of employees and stakeholders throughout the process.
“I am proud of our dedicated employees for their relentless commitment to providing excellent service for our customers. 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,” he said.
Board and Governance Developments
As part of the Company’s emergence from Chapter 11, Klöckner Pentaplast announced changes to its Board of Directors. Roberto Villaquiran and Michael Kaufman, a Partner at Redwood Capital Management, have been appointed to the Board.
Additionally, the Company stated that industry leader Andrew Berlin is expected to be appointed Chairman of the Board in the near term. Mr. Berlin previously served as Chairman and Chief Executive Officer of Berlin Packaging for more than three decades prior to its sale to Oak Hill Capital Partners.
According to the Company, the Board will be further finalized in the coming weeks with additional industry veterans and leaders. These appointments are intended to support governance, oversight, and strategic direction as the Company focuses on delivering value to customers, employees, and stakeholders.
Strategic Position Entering 2026
Entering 2026, Klöckner Pentaplast stated that it remains focused on its role as a global supplier of high-performance packaging and film solutions. The Company emphasized its commitment to meeting customer expectations with agility and operational excellence across its end markets.
According to the Company, the strengthened balance sheet and enhanced financial flexibility enable it to continue investing in innovation, operational capabilities, and sustainability initiatives. The Company stated that these priorities are central to supporting customers operating in regulated and performance-sensitive industries, including pharmaceuticals, medical devices, food, beverage, and cards.
The Company also highlighted its continued focus on supporting the transition toward a more circular economy through material innovation, recyclability initiatives, and carbon reduction efforts.
Focus on Innovation and Sustainability
Klöckner Pentaplast reiterated its commitment to delivering sustainable packaging and film solutions as part of its long-term strategy. According to the Company, sustainability remains a core component of its value proposition and operational approach.
The Company’s “Investing in Better” sustainability strategy outlines ten targets focused on increasing recycling and recyclability, reducing carbon emissions, and driving continuous improvement in areas such as employee engagement, safety, and diversity, equity, and inclusion.
According to the Company, its sustainability efforts are integrated across product development, manufacturing operations, and customer engagement, with the objective of safeguarding product integrity, assuring safety, and protecting brand reputation across end markets.
Operational Footprint and Global Presence
Founded in 1965, Klöckner Pentaplast operates 27 manufacturing plants across 16 countries and employs more than 5,000 people worldwide. The Company serves customers in over 60 locations, supporting a broad range of applications across its packaging and specialty films portfolio.
The Company stated that its global footprint enables it to support customers with localized manufacturing, technical expertise, and supply chain capabilities, while maintaining consistent quality and performance standards.
In 2025, Klöckner Pentaplast marked its 60th anniversary, highlighting its long operating history and evolution within the packaging and films sector.
Recognition and ESG Performance
Klöckner Pentaplast reported that it has received a gold rating from EcoVadis for five consecutive years. EcoVadis is a platform that assesses environmental, social, and ethical performance across global supply chains.
According to the Company, this rating places it among the top one percent of companies evaluated in the manufacturing of plastics products sector. The Company stated that this recognition reflects ongoing efforts to integrate sustainability and responsible business practices into its operations.
Advisors to the Restructuring
Klöckner Pentaplast identified several advisors involved in the restructuring process. Kirkland & Ellis served as legal counsel to the Company, while PJT Partners acted as investment banker. Alvarez & Marsal served as restructuring advisor.
Joele Frank, Wilkinson Brimmer Katcher served as strategic communications advisor to the Company. The ad hoc group of first-lien lenders and noteholders was advised by Gibson, Dunn & Crutcher LLP as legal counsel and Houlihan Lokey UK Limited as investment banker.
According to the Company, the involvement of these advisors supported the orderly execution of the restructuring process and stakeholder coordination.
About Klöckner Pentaplast
Klöckner Pentaplast is a global producer of rigid and flexible packaging and specialty film solutions, serving customers across pharmaceutical, medical device, food, beverage, and card markets. The Company’s portfolio includes packaging and product films designed to safeguard product integrity, assure safety and consumer health, improve sustainability, and protect brand reputation.
The Company’s stated vision, “The Sustainable Protection of Everyday Needs,” reflects its focus on delivering solutions that balance performance, safety, and environmental considerations. Through its product offerings and services, Klöckner Pentaplast plays an integral role in customer value chains worldwide.
Media Contacts
Michael Freitag
Aaron Palash
Aura Reinhard
Joele Frank, Wilkinson Brimmer Katcher
Phone: +1 212-355-4449
Hilary Barnes
Group Director, Global Communications
Source Attribution
Source: Company announcement