ITALY/POLAND: Guala Closures spends EUR51m on DGS control
Guala Closures has bought 70% of DGS in Poland
Guala Closures Group has upped its presence in Poland through the purchase of a 70% stake in aluminium drinks closures producer DGS.
The Italy-based company confirmed today (5 October) that it has bought the majority stake from the Polish Enterprise Fund VI for EUR51m (US$67.4m). At the same time, Polish Enterprise Fund will sell its remaining 10% in DGS to the company's founder, Krzysztof Grzadziel, who will hold the balance of 30%.
“The aim of the transaction is to consolidate Guala Closures’ global leadership with further expansion in the growing markets of Eastern Europe,” said Marco Giovannini, Guala's president & MD. “The [purchase] confirms our expansion strategy, based on the selection of reliable local partners with whom to share and develop business.”
In the last 18 months, Guala has made acquisitions in Spain and Mexico through Plastivit, in Bulgaria through Danik and in Italy through Magenta.
DGS is the world’s third largest manufacturer of aluminium closures for spirits, wine, fruit juices and for the pharmaceutical industry. Last year, the company, which operates across Eastern Europe, produced sales of EUR50m.
The transaction has been authorised by the Polish Office for Competition & Consumer Protection.
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