ALPLA has shared plans to purchase all the shares of Austrian packaging manufacturer Wolf Plastics for an undisclosed amount.
The acquisition is part of the company’s plan to strengthen its product portfolio and accelerate its expansion into Central and South-Eastern Europe.
Founded in 1973, Wolf Plastics specialises in the production of buckets, canisters and bottles for small and medium enterprises as well as international players in the construction, chemical and food industries.
The company employs approximately 210 people across its three sites, located in Kammern in the Austrian federal state of Styria, Fertőszentmiklós, Hungary, and near to Bucharest, Romania.
Wolf Plastics is headquartered in Kammern and has a product range of approximately 400 products.
ALPLA CEO Philipp Lehner said: “Wolf Plastics has decades of experience in product areas in which we want to increase our representation in order to expand our portfolio and grow in Central and South-Eastern Europe.”
Following the acquisition, ALPLA plans to leverage Wolf Plastics’ expertise in plastic bucket and canister manufacturing.
The two companies agreed not to disclose any details related to the transaction, including the purchasing price.
The deal was signed on 29 July and is subject to legal and regulatory approval by Austrian and Romanian competition authorities, who are currently examining the proposal.
ALPLA regional manager CEE Rainer Widmar adds: “Sustainability is becoming more and more important in the market segments covered by Wolf Plastics too. This is precisely where we at ALPLA can apply our expertise and our market position.”
Recently, ALPLA established a label known as Blue Circle Packaging for biodegradable products to further its commitment towards sustainability.