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SIRAP (ITALMOBILIARE GROUP) ACQUIRES 2 COMPANIES FROM REYNOLDS GROUP HOLDINGS

The transaction - concerning the UK company Kama Europe Limited and the Spanish company Reynolds Food Packaging Spain S.L.U -  will strengthen Sirap market presence in the Rigid Food Packaging 

Verolanuova,  November 14th,  2017 - Sirap-Gema S.p.A., a food package company  wholly owned by Italmobiliare, has signed a share purchase agreement for the acquisition of the entire corporate capital of Kama Europe Limited and Reynolds Food Packaging Spain S.L.U., two companies operating in the rigid plastic thermoformed Food Packaging trays and belonging to Reynolds Group Holdings Limited.

Kama Europe Limited, with a production plant located in Sedgefield (North East England) and about 110 employees, had a 2016 turnover of around 37,9 million euro.
Reynolds Food Packaging Spain S.L.U., with a production plant located in Puig-reig (Barcelona) and about 60 employees, had a 2016 turnover of around 11,4 million euro.
The closing of the transaction is expected by mid January 2018.

Sirap pursues its strategy of growth and development in the Rigid Food Packing market, by increasing its production capacity thanks to the two additional production plants.
This transaction aims at strengthening the professional expertise and the market position of Sirap in the Rigid Food Packaging sector, through the following milestones:

- productive and commercial synergies optimization;

- expansion of the range of its products as well as of the relevant geographic areas;

- enhancement of the production capacity;

- an excellent and complete service to its customers.

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