The acquisition forms part of TriMas’ plan to further expand its packaging platform
TriMas, a manufacturer of products for customers in the consumer products, aerospace and industrial end markets, has agreed to acquire Affaba & Ferrari, a designer and manufacturer of precision caps and closures.
Financial terms of the deal were undisclosed.
Affaba & Ferrari is engaged in designing, developing and manufacturing precision caps and closures with intellectual property protection for European customers.
It offers aseptic caps for juices, dairy products and sport isotonic/energy drinks, as well as tamper-evident, child-proof, induction, flex spout and other caps and closures for food & beverage, agrochemical and other industrial applications.
The acquisition, which is scheduled to be completed before the end of the year, forms part of TriMas’s plan to further expand its packaging platform.
Affaba & Ferrari to become part of Packaging segment of TriMas
Upon completion of the transaction, Affaba & Ferrari will become part of Packaging segment of TriMas reporting into its Rieke division.
TriMas president and CEO Thomas Amato said: “The acquisition of Affaba & Ferrari will supplement our existing food & beverage and industrial product offerings, adding new blue-chip customers and a state-of-the-art manufacturing operation to our European base.
“Affaba & Ferrari offers proprietary product designs, production capabilities for aseptic applications and important food packaging safety certifications, such as the British Retail Consortium/Institute of Packaging (BRC/IoP) Global Standard and the Food and Drug Administration/Interstate Milk Shippers (FDA/IMS) Compliance, all of which ultimately will enable us to expand our current product offering to our global food & beverage customers.”
Amato added: “We are pleased to add the Affaba & Ferrari brand and business to TriMas’ Packaging group, as we believe the combination will unlock additional growth and expansion opportunities globally.”
Mediobanca and Alantra acted as the financial advisors to Affaba & Ferrari.
The latest deal represents the fourth acquisition for TriMas in the packaging market since early 2019.
With approximately 3,500 dedicated employees in 11 countries, TriMas offers customers with a wide range of innovative and quality product solutions through its businesses.