The remaining 10% will remain in the hands of the current managers of the family-run company, Elisa and Lorenzo Govi, who will continue to have an operational role in the business.
About Ciesse Paper
Ciesse Paper boasts a range of facilities, including technical and graphic design, manufacturing and sales of cardboard packaging for producers and packers of fruit and vegetables.
In addition, its production site in Mantua is well located to supply the main fruit and vegetable production areas in Italy and Europe.
The acquisition is part of Groupe Guillin’s long-term strategy to offer the widest range of multi-material food packaging to its customers in various markets.
For Ciesse Paper, the deal will enable the further development of its operations by benefiting from the experience of Groupe Guillin, the company said.
Ciesse Paper’s products are used by a variety of Italian grocery and food brands such as Despar, Bio Esselunga, Alma Verde, Pink Lady and SMA.
The company achieved a turnover of €28 million in its most recent full year, with foreign markets accounting for around 35% of that turnover.
Groupe Guillin marks its 50th year of operation this year, with the company having been founded in 1972. It currently has a presence in more than 70 markets.