Italian glass manufacturer Vetroelite is changing hands. Majority-owned by private-equity firm LBO France since 2017, the company is set to join the portfolio of US-based primary packaging distributor TricorBraun this month.
The acquisition of premium Italian glassmaker Vetroelite will expand US packaging distributor TricorBraun’s presence in Europe and give it an additional foothold in the containers and stoppers markets for the wine and spirits, fine foods, olive oil and vinegar and fragrance sectors. Vetroelite has an extensive catalog of stock products as well as a bespoke offer and decoration capacities.
Vetroelite’s management team, including CEO Daniele Feletto will stay on in their roles, according to TricorBraun. The deal is set to close later this month.
This transaction marks TricorBraun’s fifth deal in the last 18 months following the acquisitions of Cormack Packaging, SGB Packaging Group, Price Container & Packaging and Packaging Solutions Inc.