PTA-Adhoc: Aluflexpack AG: Strengthening of position in Turkish market with acquisition of Teko

Monday, 04. April 2022 21:00

Ad hoc announcement according to article 53 KR

Reinach (pta040/04.04.2022/21:00) - Aluflexpack AG together with its subsidiaries (herein collectively referred to as "Aluflexpack" and "Group"), a leading European manufacturer of premium flexible packaging solutions, has signed the acquisition of 80% of Teko, a flexible packaging specialist focused on the dairy and beverage industry in Turkey and surrounding markets. With this acquisition, the Group expands its position in the growing Turkish market and strengthens its existing business in attractive consumer product categories.

The net sales of the acquired business were approximately € 16m in 2021. The company operates one manufacturing location in Çorlu close to Istanbul employing roughly 120 people, and offers an integrated value chain ranging from lacquering, printing to finishing.

"The acquisition of Teko marks another important step in our expansion strategy: the company has delivered remarkable growth and established a leading position in the domestic Turkish die-cut lidding market. In addition, it is strategically well-located to serve also markets in Europe, the Middle East and Northern Africa, and ideally complements our existing manufacturing footprint in Turkey. Together with the existing management, we want to continue the successful growth path of the company in the coming years," says Johannes Steurer, CEO of Aluflexpack.

Closing of the transaction is expected to be completed in Q2 2022. The parties agreed not to disclose the transaction price.

Disclaimer

Some of the information contained in this press release may be forward-looking statements. Aluflexpack AG cautions that such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those in the forward-looking statements as a result of various factors. Aluflexpack AG undertakes no obligation to publicly update or revise any forward-looking statements.

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emitter: Aluflexpack AG
address: Alte Aarauerstrasse 11, 5734 Reinach
country: Switzerland
contact person: Biko Hüster
phone: +436648581139
e-mail: biko.huester@aluflexpack.com
website: www.aluflexpack.com

ISIN(s): CH0453226893 (share)
stock exchanges: SIX Swiss Exchange

[ source: http://www.pressetext.com/news/20220404040 ]

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