Alpla Holding GmbH has completed the acquisition of Greek packaging supplier Argo SA as part of the strategy to bolster its pharmaceutical business.
Marking Alpla's first production base in Greece, Argo is specialised in pharmaceutical and personal care markets, with key products including bottles, cans, dispensers and closures for pharmaceutical products, cosmetics, crop protection and chemicals, as well as for veterinary medicines.
Following the acquisition, which was originally announced in July, Alpla is planning to develop the Greek site into a centre of excellence for the pharmaceutical market.
"Argo specialises in packaging solutions for the pharmaceutical and personal care markets. Naturally, we want to make use of this expertise," said Alpla CEO Günther Lehner.
In 2015, Alpla acquired Argo's production site in Egypt, a well-established supplier of rigid plastic packaging products for the North African healthcare and food markets.
Based in Athens, Argo SA was founded in 1970 and currently has offices in Athens and Bucharest, Romania.
Alpla, a leading European packaging group headquartered in Hard, Austria, employs a workforce of 19,300 at 176 locations worldwide.
The company supplies custom-made packaging systems, bottles, closures and moulded parts to a wide range of markets, including food, home care, beverages and pharmaceuticals.