Dutch plastic packaging supplier Weener Plastics (WP) Group has agreed to acquire Proenfar, a packaging solutions provider based in Latin America and currently owned by Altra Investments.
The transaction will allow WP to continue its expansion in emerging markets and bolster its product portfolio. The financial terms of the deal were not disclosed.
Headquartered in Bogotá, Colombia, Proenfar has a workforce of more than 1,600 people and operates through four production plants in Colombia, Argentina and Mexico.
Proenfar serves the pharmaceutical and personal care markets, with products exported to more than 20 countries across the Americas.
WP CEO Roel Zeevat said: “The acquisition of Proenfar marks an important milestone in our successful international expansion.
“I am convinced that our customers will benefit from this transaction as Proenfar shares our strong focus on innovation and customer service.”
The transaction will also broaden WP’s customer relationships with multinational and Latin American companies.
The acquisition is in line with the company’s focus on innovative packaging technologies, which reportedly enables growth in strategic product categories such as deodorant packaging.
Proenfar president Mario Vergara Corradine said: “Our geographic reach and product portfolio complement each other perfectly. But even more importantly, we share the same culture of promoting innovation, entrepreneurship and excellent customer service.”