Italy’s Sirap Acquires Food Packaging Companies In UK, Spain
Italian food packaging company Sirap-Gema has announced the acquisition of Kama Europe Limited and Reynolds Food Packaging Spain S.L.U.
The Italian company, wholly owned by Italmobiliare, will take over the entire corporate capital of the two companies, which specialise in the production of rigid plastic thermoformed food packaging trays, and which both form part of Reynolds Group Holdings Limited.
Kama Europe Limited operates a production plant in Sedgefield (North East England) and achieved a 2016 turnover of €37.9 million. Reynolds Food Packaging Spain S.L.U.'s operations include a production plant in Puig-reig (Barcelona) and the business a turnover of €11.4 million.
The transaction should be closed by mid-January 2018.
The acquisition is part of Sirap’s strategy of growth and development in the food packaging sector, by increasing its production capacity. It will allow the company to achieve productive and commercial synergies; expand the product range and geographic areas; and improve services to customers.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine