Plastic packaging company Alpla is buying the Romanian company Star East PET SRL.
Based in Brasov, Romania, Star East PET specializes in the production of PET preforms for drinks, food and non-food products.
The acquisition, which was sealed at the beginning of the year, will expand Alpla's production capacities in Eastern Europe.
Financial details of the deal were not disclosed.
“We are gaining access to a strong distribution network. Star East Pet is a good strategic partner, which will help us to achieve our targets in Romania and beyond,” said Alpla CEO Günther Lehner.
Star East Pet was founded in 1997 and employs 70 people.
Alpla is focused on bottles and closures for the personal care and home care market segments in Romania.
The company says it has identified “an important future market in Eastern Europe for the recycling of PET.”
The deal is expected to be finalized by mid-2017, subject to necessary approvals.