PTA-Adhoc: Aluflexpack AG: Successful closing of acquisition in Turkey

Thursday, 12. May 2022 18:00

Ad hoc announcement according to article 53 KR

Reinach (pta081/12.05.2022/18:00) - Aluflexpack AG (hereinafter referred to as "Aluflexpack", "Group"), a leading European manufacturer of premium flexible packaging solutions, today announces the successful completion of the acquisition of an 80% stake in Teko. Teko is the domestic market leader in the flexible packaging dairy and beverage industry in Turkey as well as adjacent countries, ideally complementing the Group's existing production footprint in Turkey, which is focused on the pharmaceutical end market. The integration of Teko in the Aluflexpack Group will further strengthen Aluflexpack's market presence in the growing Turkish consumer goods market and accelerate the Group's growth ambitions across the MENA region.

Turkey is a highly attractive and strategic market for Aluflexpack with favourable growth dynamics in the flexible packaging industry driven by structural factors such as increasing disposable personal income, population growth, urbanisation, and rising exposure to modern retail channels. Teko, producing flexible packaging for a diverse portfolio of international and local customers in the food retail industry, is in an excellent position to capitalise from these structural factors.

With annual net sales of c. € 16m in 2021, the company employed roughly 120 people, operating one production plant close to Istanbul.

Aluflexpack AG - forthcoming events[ 1 ]

17 May 2022, Annual General Meeting

23 August 2022, Half year results: January to June 2022

2 November 2022, Q3 sales statement

About Aluflexpack AG

Aluflexpack produces flexible packaging solutions for end markets such as Coffee & Tea, Pharmaceuticals, Pet food, Confectionery and Dairy. Its long-lasting customer relationships with locally operating companies and large international corporations alike are underpinned by well-established industry insights, flexibility in customer service and development competence. Headquartered in Reinach (Aargau), Switzerland, Aluflexpack has production facilities in Switzerland, France, Poland, Turkey and Croatia. It had 1,342 employees as of 31 December 2021.

Disclaimer

Some of the information contained in this press release may be forward-looking in nature. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, meaning that actual results may differ materially from those in this press release as a result of various factors. Aluflexpack AG is not obliged to publicly update or revise any forward-looking statements.

[ 1 ] Ad-hoc releases will be reported after market closing

(end)

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/20220512081 ]

Related Links: Aluflexpack AG
Author: