Investment in Milan-based Fimat expected to boost the Italian group’s sales in France, Germany and Italy
Italian packaging specialist Cartonpack Group says it sees an opportunity to sell more paper-based packaging in France, Germany, and northern Italy, after taking a major stake in Milan-based company Fimat, which produces cardboard packaging for food including fresh fruit and vegetables.
The deal is Carton Pack’s second major acquisition in a month, following the purchase of UK-based Clifton Packaging Group, a manufacturer of innovative flexible food packaging solutions.
Carton Pack said the investment would further expand its portfolio of fibre-based packaging solutions and its industrial footprint in Northern Italy, where it says it has exhibited strong growth.
At the same time, it said, the move enhances its presence in the French and German markets.
Fimat will continue to be run by the Fornaroli family and will maintain the high product quality and service standards that underpin its reputation, it added.
Cartonpack Group has made several acquisitions in the past four years with support from investment firm A&M Capital Europe, and has increased its annual turnover to around €200m as a result.
