Swedish firm OptiGroup has acquired companies belonging to the industrial and safety solutions business segment in Romania and Finland.
The acquisitions are expected to enhance the group’s sales by around €50m.
Proxima Tapes and Proxima Comserv offer the service and sale of industrial packaging primarily in north-western Romania.
The acquired businesses will enable OptiGroup to strengthen its existing packaging business in the country.
The company has alsoreached agreements to acquire Finnish firms Mercamer and Telpak, which are full-service packaging distributors with a wide range of industrial packaging products, services and equipment.
OptiGroup chairman and CEO Christoph Sander said: “This is an important development for OptiGroup, and reinforces our ambition to expand our industrial and safety solutions business segment, both organically and through acquisitions.
“By adding these businesses to our existing industrial and safety solutions businesses in the Nordics and other countries, we will see a significant increase in our size in this growing and attractive business segment.”
Subject to approval by the Finnish Competition Authority, the transactions involving the acquisition of Mercamer and Telpak are scheduled to be completed next month.
The acquisitions mark the company’s foray into the Finnish industrial packaging market and are expected to be complementary to the existing activities in the Nordic region.