Constantia Flexibles Group has agreed to acquire Italy’s leading dairy lidding company, TR Alucap S.r.l., for an undisclosed amount. The transaction has been completed with immediate effect.

TR Alucap is located in Borgo Valsugana, near Trento, the area with the highest yoghurt production in Italy. Alucap was owned by two private equity companies and has annual sales of close to 20 million euros. It employs more than 50 employees at its plant, supplying aluminum die-cut lids and plastic films to local dairies and international food manufacturers.

”TR Alucap allows us to extend our market share in the Italian dairy market – the fifth largest in Europe – and fits in with our strategy of strengthening our position as a leading player in the European foil packaging market,” says Stefan Grote, Executive Vice President of the Food Europe division.

“Gradiente and La Finanziaria Trentina, alongside the company CEO Luigi D’Auria, transformed TR Alucap from a family-owned business into a well-managed organization. We are very satisfied about having sold to Constantia Flexibles. Under its leadership, we are confident that TR Alucap will enforce its capabilities,” says Pietro Busnardo, Gradiente SGR CEO.

Constantia Flexibles’ business unit Dairy has a European network of plants producing for its global customers: yoghurt lids, yoghurt banderoles, liquid pouches and stick pack laminates for yoghurts, capping foil for milk bottles, wrap foils for butter and margarine, cheese foil/films and laminates, as well as toppers for cereals.