Italian flexible packaging company Gualapack Group said July 14 it's bought a majority stake in Brazilian pouch maker Tradbor Indústria e Comércio SA, the latest in a series of international expansions for the firm.
Terms were not disclosed but Gualapack said Tradbor, in São Paulo state, is the only company in Brazil that specializes in pre-made stand up pouches and related solutions.
“The Gualapack Group intends to play a key role in the further development of the flexible packaging business in Brazil," said Gualapack CEO Michele Guala. “I am pleased to announce the closing of this acquisition, which allows us to proceed with the important work in terms of integration, synergy harvest and positioning for further growth in Brazil.”
The acquisition will complement products in the company's other Latin American factories and let it “consolidate its Latin American operations,” the company said.
“The Gualapack Group will be leading the company into new business ventures in partnership with the Baumgarten family, [Tradbor's] original founder,” it said.
Gualpack, based in Alessandria, both extrudes film and injection molds packaging, in addition to printing, manufacturing packaging machinery and other services.
It's made other international moves in recent months.
In June the Italian company said it taken “substantially higher” stakes in two Chinese flexible packaging companies, Guangzhou Secure Packaging Co. Ltd., of Guangdong Province, and Secure HY Packaging Co. Ltd. in Jiangsu Province.
That investment was designed to strengthen its pouch manufacturing and laminates production in the Asian markets, and let it expand its product portfolio beyond food, cosmetics and pharmaceutical packaging, it said.
It opened a factory in Ukraine in September 2014, and in the last three years has opened facilities in Costa Rica and Romania to add onto its operations in Italy.