The transaction between the two German firms, which at this point is still subject to approval from the German competition authority, is currently set to complete in late October/early November.

Poli-Tape said its purchase of Aslan, whose films are used in signmaking and digital printing, would “secure the long-term future of this growing and successful enterprise”.

Poli-Tape Group chief executive Sven Mo¨hren said that “with its strong brand and high-quality products [Aslan is] an excellent addition to the group”.

“The companies will continue to operate independently, but their connection as one group will make them even stronger for meeting the needs of the market.”

Aslan chief executive Oliver Schwarz added: “Poli-Tape is the ideal partner for Aslan, and for our philosophy. I am pleased to have settled the succession plan for the company at an early stage, and to know that the course is now set for continued success in the future. I personally will continue to support the company with advice and assistance.”

Aslan’s product offering will bolster Poli-Tape’s existing portfolio, which also includes digital printing media, signmaking vinyls, laminating films and pressure-sensitive adhesive tapes.

The Aslan brand will continue and the name of the new company will be Aslan Selbstklebefolien. All of Aslan’s staff will be kept on and will continue to work at their existing site in Overath-Untereschbach, North Rhine-Westphalia.

The two companies also stressed that “nothing will change” for the market or for Aslan’s customers, with existing business relationships and responsibilities maintained.