Guala Closures announced its purchase of fellow Italian supplier Labrenta last week. For Guala, the transaction is “an important step towards becoming a world leader in the luxury segment”.
Consolidation in the luxury packaging sector continues apace. On July 8th, Italy’s Guala Closures purchased Vicenza-based premium closures supplier Labrenta, giving the group an expanded portfolio for the luxury market. “The acquisition is expected to generate important synergies both at the industrial and commercial level,” said Guala Closures in a statement.
This deal comes just two months after Labrenta’s acquisition of Portuguese supplier Anacorks; the move was in part to secure supply of natural corks for the Italian company.
Guala Closures operates 30 production facilities worldwide and reported sales of €710m in the 12 months ending March 31, 2022. While Labrenta’s main production site is located in Breganze, which is to become “an important center for research, development and production of luxury closures,” says Guala, it also has manufacturing in Brazil and Mexico for local markets. Labrenta has annual sales of €30m.