Peruvian flexible film supplier Oben Holding Group has acquired Mexican manufacturer KristaFilms SA de CV from Mexico's Grupo Agusa in a move aimed at satisfying growing demand for its products and services in North America.
The acquisition "represents an important milestone in the execution of our strategic plan and reinforces our commitment to provide high-quality products and fast delivery to our customers in North America, strengthening our position in the market," Gonzalo Belaunde, Oben's CEO said in an English-language news release July 10. Financial details of the deal were not released.
KristaFilms, whose name has already been changed to Oben México on the Google search engine, has produced biaxially oriented and crystaline polypropylene films, metallized and polyethylene films at its manufacturing facility in Apodaca, a 13-mile drive from downtown Monterrey, in northern Mexico, for two decades.
The plant includes six manufacturing lines, Oben said.
The Oben group was founded 31 years ago. In February 2021 it declared that it owned and operated 11 plastics film manufacturing facilities in six countries in South and Central America (in Argentina, Chile, Peru, Ecuador, Colombia and El Salvador) and together the plants had an annual production capacity of 550,000 metric tons.
The same month, Oben announced the acquisition of Spanish company Poligal from the Barcelona-based Peralada Group. Online, Poligal described itself as "one of the main European manufacturers of bioriented polypropylene (BOPP) and cast polypropylene (CPP) film."
It was Oben's first manufacturing venture outside the Americas. The company says it sells its products in 40-plus countries in the Americas, Europe and Africa.