Austria-based Greiner Packaging has acquired a majority stake in Turkish packaging companies Teknik Plastik and Teknik IML from the Özata Group for an undisclosed sum.
The transaction will expand the Kunsmünster-based company’s international market position through an acquisition in Turkey, making it the country’s market leader in rigid plastic packaging for dairy products. It also reflects the company’s medium-term strategy to grow itself outside Europe in the future.
By taking a majority stake in the Istanbul-based companies, Greiner Packaging has assumed responsibility for around 270 new employees, it said.
Greiner Holding chairman Axel Kühner said: “We are systematically carrying on the globalisation strategy with this expansion to Turkey, and this represents the first step toward markets in the Middle East and Asia.”
“The new acquisition in Turkey is confirmation of the successful international trail that we are currently blazing with Greiner Packaging,” added Greiner Packaging CEO Willi Eibner. “We can continue expanding our competence and now have even more options to respond to the wishes of customers from abroad.”
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