Guala Closures, Italian multinational and global leader in the manufacture of aluminium screw caps for wine, oil and spirits, announced today that it had completed the acquisition, from private equity fund Polish Enterprise Fund VI, L.P., of 70% of the Polish company DGS SA, which manufactures aluminium closures. The remaining 30% will remain under the ownership of the current chairman of the board and shareholder in the Company.
DGS SA, which was founded in 1991, is the third largest manufacturer in the world of aluminium closures for spirits, wine, fruit juices and for the pharmaceutical industry. A significant percentage of its production targets the Eastern European markets, such as Russia, the Ukraine, Belarus and Kazakhstan, as well as Western Europe and the United States. The company has approximately 560 employees and showed a turnover of 50 million Euros in 2010.
The acquisition, costing 51 million Euros for 70% of the share capital, has been authorised by the Polish Office for Competition and Consumer Protection.
"The aim of the transaction," said Marco Giovannini, President and Managing Director of Guala Closures, "is to consolidate Guala Closures global leadership with further expansion in the growing markets of Eastern Europe. The acquisition of DGS confirms our expansion strategy, based on the selection of reliable local partners with whom to share and develop business, which has permitted Guala Closures Group to become the market leader in the sector."