Packaging specialist Alpla Group is acquiring 100% of the shares in Austria-based packaging manufacturer Wolf Plastics Group, the company announced today.
Wolf Plastics mainly produces plastic buckets and canisters at its three production facilities in Austria, Hungary and Romania – products that are complementary to Alpla’s portfolio of packaging products.
The acquisition will moreover allow Alpla to expand its presence in Central and South-Eastern Europe, tapping new market segments in a region where it sees considerable growth potential.
In addition, said Alpla Regional Manager CEE Rainer Widmar, sustainability is becoming more and more important in the market segments covered by Wolf Plastics. “This is precisely where we at Alpla can apply our expertise and our market position.”
Wolf Plastics was founded in 1973. It supplies SMEs and international key accounts in the construction, chemical and food industries with buckets, canisters and bottles. The company employs some 210 people its three sites in Kammern, in Fertőszentmiklós (Hungary) and near Bucharest (Romania).
The Austrian and Romanian competition authorities are currently examining the proposal. The acquisition deal was signed on 29 July 2021. The acquisition is subject to the legal and regulatory approval of the competent competition authorities.
The contracting parties have agreed not to disclose the purchase price or any of the details involved.