The Linhardt Group and the Pioneer Group have signed a share purchase agreement effective 1 April 2024. Linhardt is thus acquiring the companies Pioneer Extruder Pvt. Ltd and Jeevanlakshmi Packaging Solutions Pvt. Ltd in full.
Since summer 2023, the management of the Linhardt Group and the owner family of the Indian aluminium tube and can manufacturer Pioneer Group had intensive and trusting discussions about Linhardt acquiring the Pioneer Group. with all its companies and locations intended. The share purchase agreement between the two companies came into force on 1 April 2024 and includes the full acquisition of the companies Pioneer Extruders Pvt. Ltd and Jeevanlakshmi Packaging Solutions Pvt. Ltd. Four sites are affected by the acquisition: Daman, Sanjan, the Dahanu site in the state of Maharashtra, and Sancoale in the state of Goa. Both parties expect the acquisition to be completed by June 2024 at the latest.
Until the closing in June, the owner family Patel will continue the operational management of the Pioneer sites in close coordination with the Linhardt management. Over the next few days, intensive talks will be held with the workforce, all business partners and other stakeholders on site in India with the aim of finding a solution to the problem. Trustworthy and smooth transfer of ownership ensure.
„With this acquisition, Linhardt will open a new chapter in its more than 80-year company history and further expand its global market leadership for high-quality aluminium tubes for the pharmaceutical industry, thereby also strengthening and relieving the existing locations of the Linhardt Group. We would like to expressly thank the Patel family, headed by CMD Kishor J. Patel, for his life's work and his vision. As an internationally active
We look forward to continuing the values and tradition of Pioneer with great respect as a family business and warmly welcome the more than 500 Pioneer employees to the larger Linhardt family.“Johannes Schick, Linhardt CEO
Source: Linhardt
