Italy's Sirap Gema boosts rigid packaging place with two acquisitions

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Italian packaging producer Sirap Gema SpA. has continued to grow in the rigid food container market through the purchase of two European moulders of thermoformed plastic packaging trays from Reynolds Group Holdings.

Verolanuova, Italy-based Sirap-Gema is acquiring Reynolds Food Packaging Spain S.L.U., located near Barcelona, Spain and Kama Europe, based in Sedgefield, County Durham in the UK.  Both firms are part of the packaging operations, including the Alcoa consumer business,    owned by the private New Zealand-based Rank Group.

The UK business, with one plastics tray thermoforming plant, has a 110 strong workforce and achieved turnover last year of almost €28m.

In Spain, the smaller Reynolds Food Packaging operation, with a plant in Puig-reig, Barcelona, had annual 2016 sales of around €11.4m and employs 60.

The acquisition deal, for which a value has not been disclosed, is scheduled to be completed by the middle of January 2018.

The latest capacity addition follows Sirap group’s expansion last year through its acquisition of a local Italian packaging thermoformer Rosa Plast S.r.l.  That deal added a plant in Bovezzo, north of Brescia, Italy focused on rigid food containers, chiefly for meat, cod cuts and ice cream, to the group’s existing five Italian plants and others in France and Poland.

Sirap Gema, owned by the Milan-based Italian industrial holding group Italmobiliare, is aiming to strengthen its market position and professional expertise in rigid food packaging with the new takeover.

It wants to optimise production and commercial synergies, expand its range of products along with its geographic spread and boost output, the company said.

Last year, the firm, with 10 plants, recorded an annual turnover worth €207m and has a 1,200-strong workforce. Today, it has 18 subsidiaries in 15 countries.

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