* Constantia Flexibles Group has agreed to acquire Italy's leading dairy lidding company, TR Alucap S.r.l., for an undisclosed amount. The transaction has been completed with immediate effect.
TR Alucap is located in Borgo Valsugana, near Trento, the area with the highest yogurt production in Italy. Alucap was owned by two private equity companies and has annual sales of close to 20 million euro. It employs more than 50 employees at its plant, supplying aluminum diecut lids and plastic films to local dairies and international food manufacturers.
"TR Alucap allows us to extend our market share in the Italian dairy market--the fifth largest in Europe--and fits in with our strategy of strengthening our position as a leading player in the European foil packaging market," says Stefan Grote, executive vice president of the Food Europe division.
"Gradiente and La Finanziaria Trentina...