Dutch packaging group Weener Plastics (WP) is acquiring Latin American packaging solutions provider Proenfar SA from Altra Investments, for an undisclosed amount.
The Ede, Netherlands-based company said the agreement was signed on 23 April but is subject to customary approvals.
The acquisition, said WP, is part of its strategy to expand in emerging markets and strengthens its product portfolio.
Headquartered in Bogota, Colombia, Proenfar is a leading player in Latin America with four production sites in Colombia, Argentina and Mexico.
WP, which has a strong presence in Europe, said Proenfar complemented it in terms of regions, with its exports to more than 20 countries across the Americas.
Proenfar also has long-standing customer relationships with multinational and local companies in the pharmaceutical and personal care markets.
With regard to the product portfolio, WP said the acquisition would allow it to grow in strategic product categories such as deodorant packaging.
WP will also expand its pharmaceutical packaging through the takeover.
“The acquisition of Proenfar marks an important milestone in our successful international expansion,” said Roel Zeevat, CEO of WP.
Also commenting, Mario Vergara Corradine, president of Proenfar, said the two companies’ geographic reach and product portfolio complemented each other “perfectly”.