Grant Thornton Financial Advisory Services assisted Sirap-Gema S.p.A., a company within the Italmobiliare Group operating in the food packaging industry, with the acquisition from Reynolds Holdings Limited of two companies operating in the rigid plastic thermoformed food packaging sector.
These are in particular Kama Europe Limited, a UK company located in Sedgefield (North East England) with about 100 employees and a turnover of approx. 37.9 million Euro in 2016 and Reynolds Food Packaging Spain S.L.U., located in Puig-reig (Barcelona), with about 60 employees and a turnover of around 11.4 million Euro.
The closing of the transaction is expected by mid January 2018.
With this transaction the Sirap Group - one of the main manufacturers of food packaging in Europe with 10 plants and 32 distribution centres in 15 countries and a consolidated turnover exceeding 205 million Euro - pursues its growth strategy in the rigid food packaging sector also by expanding its manufacturing capacity.
Grant Thornton Financial Advisory Services coordinated the operation from an M&A point of view, with the collaboration of Grant Thornton UK colleagues.
For further information please contact Sante Maiolica.