Austrian manufacturer of flexible packaging products and labels, Constantia Flexibles Group, has completed the acquisition of Italy's leading dairy lidding company, TR Alucap srl, for an undisclosed amount.
In a March 1 statement, Constantia Flexibles said TR Alucap is located in Borgo Valsugana, near Trento, which is an area with the highest yogurt production in Italy.
The company Alucap was owned by two private equity companies and has annual sales of nearly 20 million euros ($21.2 million), with over 50 employees.
The company manufactures aluminum die-cut lids and plastic films for local dairies and other 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,” said Stefan Grote, executive vice president of the food Europe division.