Gruppo Fabri, owned by private equity fund Argos Wityu, has acquired food packaging business Caveco.
Based near Modena, Gruppo Fabri is a leading producer of machines and films for fresh food packaging.
The business operates three production units (two in Italy, one in Switzerland) and six sales and service companies in Italy, France, Germany, UK, Switzerland and Russia.
It is active in around 80 countries worldwide and reported turnover of €68.4 million in 2018.
Brescia-based Caveco, which specialises in fresh produce packaging, as well as meat packaging, achieved a turnover of €8.8 million in 2017, the most recent year for which data is available.
Following the completion of the acquisition, the Vellutini family, which operates the firm, will remain as Caveco shareholders and will actively contribute to the future development of the group.
The deal was partially financed by Banco BPM.
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine
