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Gate Gourmet announced at the end April that it has signed a memorandum of understanding to take a majority stake in the Netherlands-based packaging company Packattack. Following due diligence studies the two parties were expecting final approval of the buy sometime in June. The agreement includes a partnership and minority shareholding with POTM (People on the Move) a design partner for Packattack. Packattack has been in business for 15 years and develops packaging concepts and sourcing equipment for airlines, railroads and retail chains. In 2006 the company recorded €10 million (US$13.5 million) in sales. Packattack products are found on Air Berlin and KLM Royal Dutch Airlines. "Packattack is a young, innovative company with experienced management, and its partnership with POTM creates a unique, flexible business model and an excellent platform for growth,” said Guy Dubois, Gate Gourmet’s executive vice president, chief financial offers and chief administrative officer. “Their product portfolio is focused on food contact items, such as tray set-ups and boxes. It complements Gate Gourmet's offerings through its Five Oceans subsidiary, which is focused on comfort items, such as amenity kits and blankets.”
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