Innovia is a leading global producer of speciality high performance films used in food and tobacco packaging, and of polymer banknote substrate.
We made a cornerstone investment in the acquisition of Innovia in 2014. Our strategy was to capitalise on expanding demand across the product portfolio, and to invest in new capacity to deliver growth. This was delivered through a restructuring of the business which shifted investment and focus towards growing higher-margin products. This included the sale of Innovia’s Cellophane business in 2016.
We exited the investment in 2017 when Innovia was sold to a strategic buyer.