Colep Packaging, a provider of packaging solutions, has announced the acquisition of the remaining stake in ALM, a Spanish aluminium aerosol manufacturer.
The company purchased the remaining 60% shares of ALM, two years after acquiring a 40% stake in the company.
The financial terms of the transaction have not been disclosed.
ALM, with more than 35 years of experience, specialises in producing aluminium packaging solutions for various industries, including food, beverage, cosmetics, personal care, and household care.
The company is expected to achieve sales exceeding €16m ($17.46m) in 2024 and has plans to double its production capacity for aluminium aerosols by 2026.
An expansion plan is also in place, which includes an investment of more than €15m.
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By GlobalData
This investment aims to enhance the Barcelona, Spain, plant’s infrastructure and production capacity to better serve the Iberian and European markets.
This acquisition is a strategic move for Colep Packaging, bolstering its market position for metal packaging solutions in both tin plate and aluminium.
The global aerosol market has seen recent growth, with an annual increase of more than 6%, leading to the production of ten billion units per year.
Colep Packaging CEO Paulo Sousa said: “This operation, together with the recent entry into Mexico, emphasises our vision for the aerosol segment and is aligned with the company’s growth strategy.”
Colep’s industrial infrastructure spans across five locations: Vale de Cambra, Portugal; Kleszczów, Poland; Navarra and Barcelona, Spain; and Querétaro, Mexico.
In October last year, the company entered into a joint venture with Envases Group to construct an aerosol packaging plant in Mexico.
