ITALY – Sacmi, international manufacturer of machines has acquired a 60% stake in Pack Sud, a manufacturer of food packaging and wrapping machines, with a view to expanding its ownership to 100% in coming years.
According to Sacmi, the aim of the acquisition is to expand its Packaging & Chocolate division’s machine product range and to strengthen its skills, as well as its marketing know-how.
Under the deal, the Pack Sud management team will remain in charge. The financial terms have not been disclosed.
“The Pack Sud takeover represents a further step in the implementation of a strategy that has the twin goals of product range completion and market diversification,” said Giovanni Campolungo, CEO of Sacmi Packaging & Chocolate.
“Pack Sud will bring Sacmi exceptional, segment-specific expertise. This operation therefore completes us on both a technological level and in terms of target customers.”
“With its takeover of Pack Sud, Sacmi continues to pursue a strategy of growth on external lines too by acquiring companies with strategic skill and Italian expertise,” President of Sacmi Imola, Paolo Mongardi, said.
The news follows Sacmi’s acquisition of a majority stake in Abruzzo-based Velomat earlier this year, as the company looked to diversify and expand its closures range.
“Our goal remains attainment and enhancement of the skills and know-how needed to develop the business and promote high-quality Italian products, strengths we aim to incorporate in the Sacmi Group’s network and its global strategy,” added Mongardi.
The move follows Sacmi’s major investment into acquiring the Carle & Montanari-OPM and CM-Fima group of confectionery equipment businesses two years ago, which have retained their identity under the banner of their new owners.
Its latest acquisition further expands the company’s capabilities, with Pack Sud, being a young, dynamic company bringing its unique vertical packaging design and marketing know-how to its new owners – including having developed close ties with local companies in the bakery field.
Founded in 2003, Apulia-based Pack Sud employs a workforce of 15. The company supplies vertical packaging technology to a network of local bakery businesses, including makers of tarallifici and other bread-derived products.