Faller Packaging has agreed to buy Paperpack, a packaging company in Greece that focuses on the pharmaceutical and healthcare sectors.

Financial terms of the deal remain undisclosed.

The transaction extends Faller’s foothold in Europe, combining two companies operating in similar segments of the packaging market.

According to Faller, the businesses are “highly complementary”.

Paperpack CEO Dimitris Tsiftsis said: “We are proud of what we have built over the years: a strong pharmaceutical packaging business based on quality, reliability, and long-standing customer relationships. In Faller Packaging, we have found a strategic partner that shares our values and our long-term vision.

“By combining Paperpack’s strong position in Greece and South-Eastern Europe with Faller’s broader capabilities, product portfolio, and European network, we see significant opportunities to create additional value for our customers, open new opportunities for our people and accelerate our next phase of growth.

"Most importantly, we will continue to build on the qualities that have made Paperpack successful: customer focus, flexibility, reliability, and operational excellence.”

The acquisition is subject to regulatory approvals.

Faller Packaging CEO Dagmar Schmidt said: “The acquisition of Paperpack represents another important step in executing our growth strategy.

“By joining forces, we strengthen our presence in South-Eastern Europe and expand our ability to support customers across the region. At the same time, we are reinforcing our commitment to being a trusted partner to the pharmaceutical and healthcare industries.”