Constantia Flexibles has agreed to acquire Italy’s leading dairy lidding company, TR Alucap, for an undisclosed amount.
TR Alucap is located near Trento, in northern Italy – a region that produces more yogurt than anywhere else in the country. It employs more than 50 people at its plant, which supplies aluminium die-cut lids and plastic films for use principally in dairy, and generates annual sales of almost €20 million.
The deal, agreed with TR Alucap’s two private equity owners, has been completed with immediate effect.
Stefan Grote, executive vice-president of Constantia Flexibles Food Europe, said: “TR Alucap allows us to extend our market share in the Italian dairy market – the fifth largest in Europe – and fits in with our strategy of strengthening our position as a leading player in the European foil packaging market.”
Pietro Busnardo, CEO of Gradiente, one of the two private equity firms selling TR Alucap, said: “Gradiente and La Finanziaria Trentina, alongside the company’s CEO Luigi D’Auria, transformed TR Alucap from a family-owned business into a well-managed organisation. We are very satisfied about having sold [TR Alucap] to Constantia Flexibles. Under its leadership, we are confident that TR Alucap will enforce its capabilities.”
The company will join Constantia Flexibles’ dairy business unit, which has a European network of plants producing yogurt lids, banderoles, liquid pouches and stick pack laminates for customers around the world. Its products are used in yogurt packaging, and as capping foil for milk bottles, wrap foils for butter and margarine, and foils, films and laminates for cheese.
Last month, Constantia invested €3 million in improvements to its printing technology for dairy lids at its manufacturing site in Wangen im Allgäu, Germany.
© FoodBev Media Ltd 2020
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