US-based Berlin Packaging has signed a definitive agreement to acquire polyethene terephthalate (PET) and high-density polyethene (HDPE) container manufacturer Novio Packaging.
Financial terms of the transaction remain undisclosed. The deal will boost Berlin Packaging’s existing businesses in Europe.
The European businesses include speciality glass market provider Bruni Glass, closure maker Bruni Erben and four other companies.
Berlin Packaging chairman and CEO Andrew Berlin said: “Acquiring Novio fully solidifies our European positioning, giving us the ability to help customers of all sizes, including multi-national corporations, across all market segments, grow their bottom lines with our packaging products and services.
“It provides tremendous cross-selling opportunities, a robust sales pipeline and a perfect platform for continued European expansion.”
Based in Netherlands, Novio Packaging employs approximately 160 people at multiple offices in northern Europe.
The company provides primary packaging and packaging solutions for pharmaceuticals, cosmetics, food and domestic non-food industries.
The acquisition of Novio Packaging was the fifth for Berlin Packaging this year. The company has acquired a total of 13 companies since 2010.
Novio Packaging founders and managing directors Erik Trum and Marck Jansen said: “By joining forces with a global powerhouse like Berlin Packaging, we are drastically accelerating the business, and this will provide substantial benefits to our customers, suppliers and employees.”
Berlin Packaging will retain Novio Packaging’s employees and locations.
The purchase will take another 45 days to be finalised and is subject to mandatory customary closing conditions.
De Brauw Blackstone Westbroek and Paul, Weiss, Rifkind, Wharton & Garrison acted as advisers for Berlin Packaging. Nielen Schuman and Allen & Overy offered advice to Novio Packaging.