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Constantia Flexibles acquires dairy lidding company in Italy

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By Jenny Eagle+

01-Mar-2017
Last updated on 01-Mar-2017 at 13:06 GMT2017-03-01T13:06:20Z

TR Alucap produces yogurt lids. Picture: TR Alucap.
TR Alucap produces yogurt lids. Picture: TR Alucap.

Constantia Flexibles Group has acquired TR Alucap, a dairy lidding company in Italy, for an undisclosed amount.  

The company is based in Borgo Valsugana, near Trento, which has the highest yogurt production in Italy.

Growth in market share

Stefan Grote, executive VP, Food Europe, Constantia Flexibles, said the acquisition will allow the firm to grow its market share in the Italian dairy market and strengthens its position in the European foil packaging market.

Nick Mockett, head of packaging M&A, Moorgate Capital, London, told DairyReporter the dairy industry has been going through phases of concentration such as Müller/Wiseman/Dairy Crest and Danone/WhiteWave.

It is often the case that suppliers to a consolidating industry will follow suit, to secure their relationships with the customer base. Flexible packaging manufacturers are also looking to broaden their geographic and product ranges and Contantia, as one of the largest flexibles players, has a history of bolt on acquisitions.”     

Alucap, which specializes in the production of aluminum die-cut lids and plastic films, reported sales of €20m ($21m) last year and was formerly owned by two private equity companies.

European network of plants

It employs more than 50 staff. Its portfolio consists of mostly caps in lacquered aluminum with variable thicknesses from 25my to 50my, aluminium fused with plastic film or co-extruded for strength, PET films and coil-printed aluminum.

Gradiente and La Finanziaria Trentina, alongside the company CEO Luigi D’Auria, transformed TR Alucap from a family-owned business into a well-managed organization,” said Pietro Busnardo, CEO, Gradiente SGR.

Constantia Flexibles’ Dairy business unit has a European network of plants producing yogurt lids, yogurt banderoles, liquid pouches and stick pack laminates for yogurts, capping foil for milk bottles, wrap foils for butter and margarine, cheese foil/films and laminates, and toppers for cereals.

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