Italian speciality closure producer Guala Closures has entered an agreement to acquire Labrenta, a manufacturer of closures for the beverage and food sectors in Italy.
Founded in Breganze, Vicenza, Labrenta manufactures tailor-made closures for spirit, wine, oil, vinegar and beer bottles.
The company has 800 customers in 70 countries and operates plants in Italy, Brazil and Mexico, as well as a commercial branch in the US.
As part of a focus on sustainability, Labrenta has launched product lines composed of natural and synthetic material blends. It has also obtained 30 product patents.
The company acquired Portuguese luxury cork closure producer Anacorks earlier this year and expects to record more than €30m in revenues this year.
The acquisition of Labrenta is intended to strengthen Guala Closure’s presence in the luxury segment.
Guala Closures president and CEO Gabriele Del Torchio said: “Labrenta is an excellent and innovative company, with a strong local presence, an important know-how, a well-organised team and a management with a long-term strategic vision.
“The acquisition of Labrenta represents an important opportunity for our Group.
“The deal will contribute to the achievement of the goals set in our strategic plan as well as to further strengthen our already significant presence in the luxury segment.
“The entrepreneurial experiences of Gianni and Amerigo Tagliapietra will be crucial to support us throughout this new development path.
“The plant in Breganze will become an important centre for the research, development and production of luxury closures.”
Labrenta’s existing shareholders, including CEO Gianni and business development vice president Amerigo Tagliapietra, will reinvest in Guala Closures following the acquisition.
They will assume ‘important’ managerial positions in the company’s luxury closures segment.
Based in Milan, Guala Closures provides closure solutions for spirits, wines, beverages, oil and condiments.
The company employs more than 4,850 colleagues at 30 production facilities across five continents.