Financial advisor to Weener Plastics Group, a leading manufacturer of innovative plastic packaging products, in the acquisition of Proenfar, a Colombia-based manufacturer of pharmaceutical and cosmetics plastic packaging solutions for the Latin American market.
Proenfar, established in 1946, employs more than 1,600 people and has four production plants in Colombia, Argentina and Mexico. The company exports its products to more than 20 countries across the Americas and has long-standing customer relationships with multinational and local companies in the pharmaceutical and personal care markets. The company’s services cover the entire value chain from project management and concept development, through tool building and testing, to production and filling.
Weener Plastics Group, part of international private equity 3i Group (LSE:III), designs, develops and manufactures added value caps and closures, roll-on balls, jars and Bottles for the personal care, food and beverage and home care markets. The company has 25 facilities in 16 countries and employs over 3,000 people.
The transaction is subject to customary closing conditions.