Klöckner Pentaplast Completes $1.5B Debt Reduction Through Chapter 11 Restructuring

The packaging company emerges with new ownership and leadership as it stabilizes operations.

Feb. 2, 2026 at 5:31am

Got story updates? Submit your updates here. ›

Klöckner Pentaplast, a global packaging and film solutions provider, has completed a restructuring under the US Chapter 11 process, resulting in the removal of around €1.3 billion ($1.5 billion) in funded debt from its balance sheet. The company's exit from court oversight follows a €349 million injection in new capital as part of its plans to stabilize ongoing operations.

Why it matters

The successful restructuring allows Klöckner Pentaplast to emerge as a financially stronger company, positioning it to continue delivering innovative and sustainable packaging solutions to customers globally. The shift in ownership and leadership also signals a new chapter for the company as it navigates the evolving packaging industry.

The details

As part of the restructuring, ownership of Klöckner Pentaplast has shifted to a consortium of financial partners led by funds affiliated with Redwood Capital Management. CEO Roberto Villaquiran and Michael Kaufman, a partner at Redwood Capital Management, have joined the company's board of directors. The company also anticipates the appointment of Andrew Berlin, the former chairman and CEO of Berlin Packaging, as board chairman in the coming weeks.

  • Klöckner Pentaplast entered a restructuring support agreement with most of its financial stakeholders in November 2025.
  • The US Bankruptcy Court for the Southern District of Texas approved the company's reorganization plan in December 2025.
  • Klöckner Pentaplast has now completed its restructuring and exited court oversight.

The players

Klöckner Pentaplast

A global packaging and film solutions provider that has completed a restructuring under the US Chapter 11 process.

Redwood Capital Management

A consortium of financial partners that now owns Klöckner Pentaplast following the restructuring.

Roberto Villaquiran

The CEO of Klöckner Pentaplast who has joined the company's board of directors.

Michael Kaufman

A partner at Redwood Capital Management who has joined the Klöckner Pentaplast board of directors.

Andrew Berlin

The former chairman and CEO of Berlin Packaging, who is expected to be appointed as the new board chairman of Klöckner Pentaplast.

Got photos? Submit your photos here. ›

What they’re saying

“Today represents the next exciting phase in kp's journey, as we emerge from this process as a financially stronger company. 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.”

— Roberto Villaquiran, CEO, Klöckner Pentaplast

What’s next

The process to complete Klöckner Pentaplast's board with additional industry figures is expected to be finalized in the coming weeks.

The takeaway

Klöckner Pentaplast's successful restructuring under Chapter 11 has allowed the company to significantly reduce its debt burden and position itself for future growth. The shift in ownership and leadership signals a new era for the packaging solutions provider as it continues to deliver innovative and sustainable products to its global customer base.