© Vetropack
Swiss glass packaging manufacturer Vetropack has signed a purchase agreement to acquire a glassworks in a suburb of Milan, the home of the food and beverage glass packaging business of Italian company Bormioli Rocco.
The acquisition reinforces Vetropack’s position in the Italian market, with more than 20% of its exports during 2014 going to customers in Italy. Vetropack will be able to gain significant market share and further strengthen its position as an efficient Europe-wide supplier of glass packaging as a result of the deal.
The glassworks in Trezzano sul Naviglio – seven miles southwest of central Milan – currently produces around 140,000 tonnes of glass packaging every year for the food and beverage industry, most of which is sold in the domestic market. Consumer goods manufacturer Bormioli Rocco employed 260 staff at the site, which generated revenues during 2014 of nearly €60m.
The new subsidiary intends to maintain and expand its current product portfolio and the customer relationships it has built up. Integrating the new subsidiary into Vetropack Group will enlarge the range of products on offer and enable synergy effects to be leveraged, the upper Switzerland-based company said.
“Having our own works in a country where we have been a sought-after partner of the food and beverage industry for decades is an ideal next step in our group’s expansion,” said Vetropack’s Claude R Cornaz. “We’re now in a position to develop further in a region that we are extremely familiar with. This will benefit our existing customers as much as those we will be welcoming thanks to our new glassworks in Trezzano sul Naviglio and those we still have to win.”
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