Swedish plastics injection moulding group Rosti has completed the acquisition of a majority stake in Tebplast Plastik from the Teber family.
The acquisition is expected to give Rosti access to the top filled plastic packaging markets.
Rosti Tebplast will be included in the packaging division of Rosti Group, which already holds a significant proportion of its sales in the packaging market, supplying caps and closures to the food and drinks industry.
Rosti Tebplast head Magnus Emeus said that the combination of Tebplast's capabilities with the sales network of the Rosti Group will create growth opportunities both inside and outside Turkey.
"We are very happy with this acquisition and the synergy opportunities created between our businesses," Emeus added.
Rosti Group CEO Borje Vernet said that the company has made two acquisitions in 2012, and plans to add further acquisitions in the medium term.
"We are making good progress in implementing our long-term strategy, by growing the business both organically and by acquisitions, towards our 2016 target of €600 million sales," Vernet added.
Turkish injection molder Tebplast specialises in in mould label (IML) rigid packaging for the food and drinks industry. With 40 production lines, the company supplies IML products to the dairy, fresh food and chilled and frozen food markets.
Image: Rosti acquires majority interest in Tebplast. Photo: courtesy of Rosti.