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Valgroup expands its operations in the Italian PET preform market with the acquisition of Garda Plast Group

25/10/2023

Valgroup, one of the largest producers, transformers and recyclers of plastic packaging, announces the acquisition of Garda Plast Group (GP Group), formed through the aggregation – led by Progressio SGR – between Garda Plast S.p.A., based in Polpenazze del Garda (BS), and IFAP S.p.A., based in Palmanova (UD). GP Group is specialized in the production of PET and rPET preforms.

This business expansion consolidates the company’s presence in Italy, strengthening relations with suppliers and enabling it to support regional customers more comprehensively.

Massimo Cutolo, President and CEO of Garda Plast, comments: “During these years of partnership with Progressio, the management team has achieved significant milestones. We dare say that our Group is now an excellence in the industry, important goals has been achieved and many others will be achieved.”

Alessandro Petraccia, Senior Partner at Progressio, says: “We are proud to have supported Massimo and the management team of the GP Group in this journey. The company has embarked on a virtuous growth path, entering new markets, developing new value-added business lines, investing in technology, digitalization, and sustainability. Special thanks go to our partners, Pietro Bruseschi, Marco Bruseschi, Amos Tonoli, and Luca Tonoli, who, not only for their significant contribution to the business, but also because they have been great companions in this journey.”

Luigi Geronimi, Founder of Valgroup, says: “With the acquisition of the Garda Plast Group, we further consolidate our position in the Italian market, creating a hub of innovation and excellence in the PET and rPET preform sector for the beverage, detergent and dairy industries.”

The two new plants acquired by Valgroup in Italy are in addition to five other PET preform manufacturing units: one in San Jose, Uruguay, another three in Brazil, in the cities of Duque de Caxias (RJ), Ipojuca (PE) and Betim (MG), as well as the unit located in Villa Lempa, Italy, acquired at the end of 2022.

 

About Valgroup
With 45 years in the market, Valgroup has become one of the largest producers, transformers and recyclers of plastic, with operations in Brazil, Spain, United States, Italy, Mexico and Uruguay, with over 6,500 employees in 40 plants. A consolidated company, with the purpose of raising quality of life through the development of innovative and sustainable solutions, in search of leadership in the plastic packaging market in the Americas and recognition as a reference in circular economy, being one of the first companies in Brazil to sign the Global Commitment to the New Plastic Economy.

 

Progressio SGR
Progressio SGR S.p.A. is an independent private equity firm focused on the Italian mid-market. The investment strategy aims to invest in high growth companies in sectors representing Italian excellence (Lifestyle, Food & Beverage, Healthcare, Industrial & Mechanical and Digital). The goal is to support the investee companies in a value creation path through organic growth and M&A strategy, meanwhile strengthening the management organization, improving their sustainability profile and implementing digital transformation. Proving its ESG focus, Progressio SGR obtained the B Corp certification in 2021, since 2022 is a Benefit Corporation. Progressio is signatory of PRI (Principle for Responsible Investment). Progressio, fully owned by the management team led by Filippo Gaggini as Managing Partner, has managed funds for around Euro 450 million and completed 23 investments with additional 16 add-ons and 17 exits. Progressio is currently raising Progressio Investimenti IV with Euro 300m target. The investment strategy of the upcoming fund will be fully consistent with the past being focus on investing across Italian excellences with an even stronger and deeper focus on digital transformation and sustainability. In particular Progressio Investimenti IV, through its investment activity, will promote specific environmental and social characteristics aimed at enhancing the most innovative and strategic profiles of sustainability (supply chain relations, digitalization, etc.) without neglecting basic and indispensable aspects such as gender equality, social inclusion, employee welfare or the use of renewable energy.

For further information: www.progressiosgr.it

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