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Guala Closures to buy Labrenta
Italy’s Guala Closures has agreed to acquire stoppers producer Labrenta to strengthen its position in the luxury segment.
Guala, which produces closures for spirits, wines and oil bottles, said the deal to buy Labrenta would create synergies at both the industrial and commercial level.
Labrenta, based in Vicenza, Italy, produces high-end tailor-made closures for spirits, wines, beer, oil and vinegar bottles.
Labrenta has 800 customers across 70 countries, with production plants in Italy, Brazil and Mexico, as well as a commercial arm in the US.
Gabriele Del Torchio, president and CEO of Guala Closures, commented: “Labrenta is an excellent and innovative company, with a strong local presence, an important know-how, a well-organised team and a management with a long-term strategic vision.
“The acquisition of Labrenta represents an important opportunity for our group. The deal will contribute to the achievement of the goals set in our strategic plan as well as further strengthen our already significant presence in the luxury segment.”
Labrenta’s current shareholders – Gianni and Amerigo Tagliapietra, who are the company’s CEO and vice-president business development, respectively – will take on managerial roles within the firm’s luxury closures segment.
Del Torchio added: “The entrepreneurial experiences of Gianni and Amerigo Tagliapietra will be crucial to support us throughout this new development path. The plant in Breganze will become an important centre for research, development and production of luxury closures.”
Labrenta is forecast to generate more than €30 million (US$30.05m) in revenue this year.
In April 2022, Labrenta acquired Anacorks, a Portuguese firm that specialises in the production of luxury cork closures.
Last year, Labrenta outlined a sustainable roadmap to mark its 50th anniversary.
Gianni Tagliapietra said: “Passion for design and technology, production quality, sustainability and a strong team are among Labrenta’s core values. In the past years, we have realised how important is for entrepreneurs to be able to respond promptly and effectively to a fast-changing environment.
“We have found in Guala Closures a group of likeminded people that share our same values, as well as a global leader in the sector that will allow Labrenta to keep pursuing high growth in a well-structured manner.”
Guala employs more than 4,850 people, and operates on five continents with 30 production facilities. The company reached approximately €710m (US$710.7m) in sales in the 12 months to 31 March 2022.