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Packaging solutions provider Alpla to acquire remaining stake in Greek firm Argo
Aug. 2, 2018
Austrian packaging solutions provider Alpla has agreed to purchase remaining stake in Greek company Argo for an undisclosed sum.
At the end of 2015, Alpla acquired the Egyptian production site of Argo. The Greek site is said to be Alpla’s first production facility in the country.
The acquisition will help Alpla to expand its operations in south-eastern Europe.
Established in 1970 and based in Athens, Argo provides packaging solutions for the pharmaceutical and personal care markets.
The company manufactures bottles, cans, dispensers and closures for pharmaceutical products, cosmetics, crop protection and chemicals, as well as veterinary medicine.
Argo supplies its products to major international and regional companies.
With around 270 employees, Argo operates branches in Koropi of Athens in Greece and Berceni of Bucharest in Romania.
The deal is subject to legal and regulatory approval from the competition authorities.
The Austrian and Romanian competition authorities are currently assessing the proposal, said Alpla.
Alpla CEO Günther Lehner said: “Our goal is to build expertise in the pharmaceutical market at our Greek location in the future. We can see potential for growth in this industry and can make use of existing expertise.”
In July 2017, Alpla agreed to acquire South Africa-based Boxmore Packaging for an undisclosed sum.
Based in Samrand of Johannesburg, Boxmore manufactures PET pre-forms, PET bottles and closures for the customers in southern Africa.
The firm’s products can be used in various applications, including drinks, food, home and personal care, pharmaceutical and chemical products.
Established in 1995, the company employs around 1,000 people at its nine locations.
With around 19,300 employees, Alpla manufactures custom-made packaging systems, bottles, closures and moulded parts at its 176 sites across 45 countries.
The company’s packaging solutions can be used in various applications, including food and drinks, cosmetics and care products, household detergents, washing and cleaning agents, pharmaceuticals, engine oils and lubrica.
The company has own recycling plants in Austria and Poland, as well as in the form of joint ventures in Mexico and Germany.
Source: COMPELO
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