Klöckner Pentaplast receives court approval for financial restructuring plan

Expects to emerge from court-supervised process promptly

Continuing to serve customers, pay vendors and suppliers, and operate as normal

LONDON, Dec. 16, 2025 /PRNewswire/ -- Klöckner Pentaplast ("kp" or the "Company") today announced that the United States Bankruptcy Court for the Southern District of Texas (the "Court") has confirmed kp's Plan of Reorganisation (the "Plan"), positioning the Company to successfully complete its financial restructuring and emerge from the US Chapter 11 process as promptly as possible. The Plan was developed and financed with the support of the ad hoc group of the Company's first-lien lenders and noteholders.

Upon emergence, kp will eliminate approximately €1.3 billion of funded debt. The Company will move forward with the support of new owners, a stronger balance sheet, and significant financial flexibility. The Plan and related restructuring transactions follow the funding by the Company's existing first-lien creditors of €349 million in new capital to support the Company's operations and restructuring. 

Roberto Villaquiran, Chief Executive Officer, said, "We entered this process with a clear purpose – to provide kp with a strong financial foundation to grow our leading portfolio, drive cutting-edge innovation, and deliver excellence for our customers. With the Court's approval of our Plan, we are an important step closer to delivering on this goal, and doing so on an accelerated basis thanks to the continued support of our financial partners, who will become kp's new owners upon emergence."

Villaquiran continued, "We are grateful to our global customers, vendors, suppliers, and business partners for their ongoing trust and support. We'd also like to thank our employees for their unwavering dedication and commitment throughout this process, demonstrating a relentless focus that has enabled us to achieve excellence. We are excited to move ahead and confident that we will enter this next phase as a benchmark in the industry for responding to the needs of our customers with agility and excellence." 

As it has throughout this process, kp is continuing to operate as usual, including paying vendors, suppliers, and business partners as normal.

Under the Plan and upon emergence, all general unsecured claims will either be paid in full or reinstated.

Additional information

Additional information regarding kp's US court-supervised process is available at advancingkp.com. Court filings and other information related to the proceedings are available on a separate website administered by the Company's claims agent, Stretto, at https://cases.stretto.com/Klockner; by calling Stretto representatives toll-free at (833) 212-0915, or +1 (949) 273-2457 for calls originating outside of the US or Canada; or by emailing KPInquiries@Stretto.com.

Advisors

Kirkland & Ellis is serving as legal counsel, PJT Partners is serving as investment banker, and Alvarez & Marsal is serving as restructuring advisor to kp. Joele Frank, Wilkinson Brimmer Katcher is serving as strategic communications advisor to the Company. The ad hoc group of kp's first-lien lenders and noteholders are advised by Gibson, Dunn & Crutcher LLP as counsel and Houlihan Lokey UK Limited as investment banker.

About Klöckner Pentaplast

Focused on delivering its vision: The Sustainable Protection of Everyday Needs, kp is a global leader in rigid and flexible packaging and specialty film solutions, serving the pharmaceutical, medical device, food, beverage and card markets, amongst others. With a broad and innovative portfolio of packaging and product films and services, kp plays an integral role in the customer value chain by safeguarding product integrity, assuring safety and consumer health, improving sustainability, and protecting brand reputation. kp's "Investing in Better" sustainability strategy solidifies its commitment to achieving ten clear targets for long-term improvement by increasing the recycling and recyclability of products, cutting carbon emissions and continuous improvement in employee engagement, safety, and diversity, equity and inclusion.

For five consecutive years, kp has held a gold rating from EcoVadis, the leading platform for environmental, social and ethical performance ratings. This ranks kp in the top 1% of companies rated in the manufacturing of plastics products sector.

Founded in 1965, kp has 27 plants in 16 countries and employs over 5,000 people committed to serving customers worldwide in over 60 locations. kp is proud to be celebrating its 60th anniversary in 2025.

For more information visit: www.kpfilms.com 

Media contacts:

Michael Freitag / Aaron Palash / Aura Reinhard
Joele Frank, Wilkinson Brimmer Katcher
+1 212-355-4449
kpmediaenquiries@joelefrank.com

Hilary Barnes
Group Director, Global Communications
kpinfo@kpfilms.com

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SOURCE Klöckner Pentaplast