Wipak secures stand up pouch market entry with Italian deal
The Germany-based firm, a subsidiary of Finnish Wihuri Oy, said it had completed the takeover of the…The Germany-based firm, a subsidiary of Finnish Wihuri Oy, said it had completed the takeover of the pouch specialist based in Caorso.
The deal will enable Wipak Group to create a strong platform to meet growing demand for premade stand up pouches that integrate a wide variety of styles and convenience features, said the company.
The new outfit, to be called Wipak Bordi, will help the company grow its market share by customising its products and service offerings, where it feels there is surging demand.
Synergies and differentiation
The transaction will also yield significant cost savings through product and service synergies, Wipak predicted.
“Wipak Bordi will strengthen our position in these growth segments”, said Matti Rovamaa, Wipak vice president and general manager.
He added: “Bordi matches Wipak and our growth strategy. [It] will add to the Wipak Group extensive experience, advanced proprietary technology and a very successful track record as provider of customized pouches. Premade pouches in its many guises will complement our offering when it comes to sustainability, convenience and especially the ability to differentiate.”
There will be no management shake-up at the Italian firm with as current chief Marco Reggi staying on.
The Wihuri Group is a global player which employs almost 5,000 people. In 2011 it posted a turnover of €1.7bn.
