Sacmi has acquired a 60% stake in Pack Sud, a manufacturer of food packaging and wrapping machines, with a view to expanding its ownership to 100% in coming years.
Founded in 2003, Apulia-based Pack Sud reportedly has a turnover of €2.5 million a year and employs a workforce of 15. The company supplies vertical packaging technology to a network of local bakery businesses, including makers of tarallifici and other bread-derived products.
According to Sacmi, the aim of the acquisition is to expand its Packaging & Chocolate division’s machine product range and to strengthen its skills, as well as its marketing know-how.
Under the deal, the Pack Sud management team will remain in charge. The financial terms have not been disclosed.
“The Pack Sud takeover represents a further step in the implementation of a strategy that has the twin goals of product range completion and market diversification,” said Giovanni Campolungo, CEO of Sacmi Packaging & Chocolate.
“Pack Sud will bring Sacmi exceptional, segment-specific expertise. This operation therefore completes us on both a technological level and in terms of target customers.”
President of Sacmi Imola, Paolo Mongardi, said: “With its takeover of Pack Sud, Sacmi continues to pursue a strategy of growth on external lines too by acquiring companies with strategic skill and Italian expertise.”
The news follows Sacmi’s acquisition of a majority stake in Abruzzo-based Velomat earlier this year, as the company looked to diversify and expand its closures range.
“Our goal remains attainment and enhancement of the skills and know-how needed to develop the business and promote high-quality Italian products, strengths we aim to incorporate in the Sacmi Group’s network and its global strategy,” added Mongardi.
© FoodBev Media Ltd 2020