Austrian packaging solutions provider Alpla has completed its previously announced acquisition of all shares in Greek plastic packaging manufacturer ARGO after receiving approval from the competition authorities.
The Greek site represents the first production facility of Alpla in the country.
The deal expands the presence of Alpla in the Central and Eastern Europe (CEE) region and offers 100% ownership of Argo in Greece and Romania.
Terms of the deal were originally signed on 5 July and were not disclosed by either of the companies.
Alpla CEO Günther Lehner said: “Argo specialises in packaging solutions for the pharmaceutical and personal care markets. Naturally, we want to make use of this expertise.
“In the pharmaceuticals sector in particular, we see opportunities for growth and a good addition to our existing product portfolio.”
As the deal is complete, Alpla will now focus on establishing a centre of excellence for the pharmaceutical market at the Argo’s Greek site.
The addition of Argo’s Berceni facility near Bucharest expands Alpla’s production facilities in Romania to four.
Alpla also acquired a production site from Argo in Egypt in 2015.
Argo currently operates in Greece and Romania by offering packaging solutions for the pharmaceutical and personal care markets.
The company produces bottles, cans, dispensers and closures for pharmaceutical products, cosmetics, crop protection and chemicals, as well as veterinary medicine.
Alpla currently employs 19,300 employees globally to produce custom-made packaging systems, bottles, closures and moulded parts at 176 sites across 45 countries.