Weener Plastic Packaging Group said Sept. 30 it was expanding its Brazilian operations by acquiring the shares of its joint venture, Weener Globalpack Indústria Plástica Ltda., in Jaraguá, along with additional injection and extrusion molding business at Globalpack's Jaraguá facility.
WPPG, headquartered in Weener, Germany, did not disclose how much it paid for the acquisitions but said it sees “significant growth potential for its innovative products in the Brazilian market” and expects the factory to play a central role in the company's growth strategy.
The former joint venture facility, which produces plastic packaging components for deodorants and antiperspirants, has been renamed Weener Indústria Plástica Ltda. The acquisition closed in July.
Weener also said it bought additional injection and extrusion molding business and related assembly and decoration operations at Globalpack's Jaraguá factory, and created a new company, Weener Brasil Indústria e Comércio de Embalagens Plásticas Ltda.
WPPG said those shares were transferred in August.
The production site, located in Jaraguá, one of São Paulo's 96 districts, employs more than 400. WPPG appointed Arnaldo Conte as managing director of the two companies.
“Weener has created a unique strategic opportunity by bringing its expertise and innovation leadership to the rapidly growing Brazilian market,” Conte said in a news release. “We can focus on existing and new Brazilian customers while strengthening our offerings to deliver even greater value."
Conte did not respond to a request for comment.
WPPG is a global plastic packaging company with 24 operations in 16 countries worldwide. The group was bought by private equity firm 3i Group plc for 250 million euros ($277.3 million) in June, when company executives said they were interested in expanding WPPG's global footprint through “a buy-and-build strategy.”