Plastic packaging supplier Weener Plastics (WP) Group has agreed to acquire Proenfar, a Latin American packaging solutions provider, from Altra Investments, for an undisclosed amount.
Headquartered in Bogotá, Colombia, Proenfar employs more than 1,600 people at four production plants in Colombia, Argentina and Mexico.
The acquisition is a part of WP’s plan to continue expansion in emerging markets and strengthens its product portfolio. The deal is subject to customary closing conditions.
The firm noted that the acquisition will expand its international presence as well as strengthen and broaden its customer relationships with multinational as well as Latin American companies.
WP CEO Roel Zeevat said: “The acquisition of Proenfar marks an important milestone in our successful international expansion.
“I am convinced that our customers will benefit from this transaction as Proenfar shares our strong focus on innovation and customer service.”
Proenfar fits with WP’s focus on new packaging technologies enabling the company to expand in product categories like deodorant packaging.
Additionally, the acquisition allows WP to expand its product portfolio with the addition of pharmaceutical packaging.
Proenfar president Mario Vergara Corradine said: “We strongly believe that in WP, we have found the perfect partner. Our geographic reach and product portfolio complement each other perfectly. But even more importantly, we share the same culture of promoting innovation, entrepreneurship and excellent customer service.
“In recent years, we have grown Proenfar from a local Colombian business to a leading Latin American player. Together with WP, we are ideally positioned to take the next step on our growth path.”
Earlier this year, WP acquired bottle manufacturer Artpack in Russia as part of its worldwide expansion strategy.
WP designs, develops and manufactures caps & closures, roll-on balls, jars and bottles for the personal care, food & beverage and home care markets.
Headquartered in Ede, The Netherlands, the company employs over 3,000 people. It has 25 facilities in 16 countries globally.