Plastic packaging company Alpla has acquired a 100% stake in the Romanian company Star East PET SRL.
Financial details of the deal have not been disclosed. “We are gaining access to a strong distribution network. Star East Pet is a good strategic partner, which will help us to achieve our targets in Romania and beyond,” said Alpla CEO Günther Lehner.
Star East Pet was founded in 1997 and employs 70 people. Alpla is focused on bottles and closures for the personal care and home care market segments in Romania. The company says it has identified “an important future market in Eastern Europe for the recycling of PET”.
The deal is expected to be finalised by mid-2017, subject to necessary approvals.
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