GCA Altium advises ALPLA on the acquisition of Argo
GCA Altium acted as exclusive financial advisor to ALPLA, a leading provider of plastic packaging worldwide, on the acquisition of Argo S.A., a specialist in packaging solutions for the pharmaceutical and personal care markets.
ALPLA, which was founded in 1955 and has around 19’300 employees at 176 locations in 45 countries worldwide, is a leading producer of plastic packaging such as tailor-made packaging systems, bottles, closures and injection moulded parts. The areas of application for quality packaging are diverse and include food and beverages, cosmetics and care products, household cleaners, detergents and cleaning agents, motor oil and lubricants.
Argo, headquartered in Athens, Greece, was founded in 1970 and currently employs around 270 people in its production sites in Greece and Romania. Argo mainly produces bottles, cans, dispensers and closures for pharmaceutical products, cosmetics, crop protection and chemicals, as well as for veterinary medicine. Its customers include well-known international and regional companies.
The transaction is a strategic investment for ALPLA and complementary to its existing portfolio, creating access in South Eastern Europe to the attractive packaging market for pharma-related products.
ALPLA CEO Günther Lehner commented: “Our goal is to build expertise in the pharmaceutical market at our Greek location in the future. We can see potential for growth in this industry and can make use of existing expertise.”
Daniel Fritz, Director at GCA Altium commented: “We are delighted to have supported ALPLA, whom we previously advised on the acquisition of Boxmore, in continuing its expansion with the acquisition of Argo. We are convinced that Argo is a great strategic fit for ALPLA and will support its growth within the pharmaceutical sector.”
The transaction closed on October 1st 2018. Financial terms were not disclosed.