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SIRAP (ITALMOBILIARE GROUP) ACQUIRES 2 COMPANIES FROM VITEMBAL HOLDING

The transaction – concerning the French Company Vitembal Tarascon S.A.S. and the German company Vitembal GmbH - will strengthen Sirap presence in the European market

Verolanuova, November 28th, 2017 Sirap-Gema S.p.A., a food package company wholly owned by Italmobiliare, after the latest acquisition of two companies from Reynolds Group Holdings, has signed a share purchase agreement for the acquisition of the entire corporate capital of Vitembal Tarascon S.A.S. and Vitembal GmbH, two companies operating in the plastic thermoformed Food Packaging trays and belonging to Vitembal Holding.

Vitembal Tarascon S.A.S. operates in the Rigid Food Packaging sector, with a production plant located in Tarascon, a 2016 turnover of around EUR 9,6 million and will be purchased by the French subsidiary Sirap France SAS.
Vitembal GmbH operates as trading company in the distribution of Food Packaging trays, with a registered office in Bergheim, a 2016 turnover of around EUR 12,9 million and will be purchased by Sirap-Gema S.p.A.
The transaction shall be completed by January 2018 with the formal transfer of the shares.

Sirap pursues its strategy of growth and development, mainly in the Rigid Food Packing market, by increasing its production capacity thanks to an additional production plant.
This transaction aims at strengthening the professional expertise and the market position of Sirap in the Food Packaging sector, through the following milestones:
- new production plant in France and trading company in Germany aimed at broadening and strengthening its presence on the European market;
- widening of the product range;
- further growth in the Rigid Food Packaging sector;
- productive and commercial synergies optimization.

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