Acquisitions in the packaging industry
Superfos, a manufacturer of injection-moulded plastic packaging used in the cosmetics market, recently announced it had entered into an agreement to sell its US business.
Denmark-based Superfos has agreed to sell the US part of its business to Berry Plastics Packaging for $82 million (€54.9 million), including any assumed debt.
Hans Pettersson, CEO of Superfos said that the decision to sell the business was based upon releasing funds to concentrate resources on developing the European activities of the company.
“We have our biggest market in Europe and see significant future growth opportunities. Therefore it is a logical step to sell the American operations now in order to focus on further development of our European business,” he said.
In 2008, the business had an annual turnover of $46.8million and today has 180 employees, according to Superfos, who said that it had grown to be an important participant in the North American market.
Pettersson believes that the acquisition by Berry, which is expected to be finalized by the middle of February 2010, will also create more value and opportunities for the US activities.
Pago buys Romanian label manufacturer
Pago Group, a labelling supplier focusing on the hair and body care market, is hoping to build up an important pillar of activity in Eastern Europe with the acquisition of Romanian labelling manufacturer, Gebacolor.
It is expected that the integration of Gebacolor into the Pago Group will strengthen its already strong position within Romania as well as neighbouring markets.
Within the area of labelling technology, the Pago Group is already represented in Romania with its own branch establishment that manufactures labelling machines for the national market.
