European multinational company SAICA has acquired the Centroplast Group, a flexible packaging producer, as part of its diversification and growth strategy.
The Centroplast Group, located in Italy and Luxembourg, employs 235 people and had a turnover of around 67 million Euros in 2015.
“SAICA’s acquisition of Centroplast allows it to continue to develop in the flexible packaging sector with the aim of offering a wider range of products and services to its customers,” a spokesperson said.
Ramon Alejandro, SAICA president, said, “This acquisition allows us to enter more strongly in the market of flexible packaging market by the hand of a leading player.
“We carry out this investment with views to the long-term and potential development of this sector.”
SAICA Group is a major producer of recycled paper for corrugated cardboard. The Group has more than 8,000 employees and is present in the UK, Ireland, France Italy, Portugal, Spain and Turkey.