November 22, 2019 in News Releases
Yesterday, Logoplaste Group announced that it has signed an agreement to acquire a majority stake in Polish Masterchem. The transaction is subject to regulatory approvals and is expected to close in the first quarter of 2020.
Masterchem’s founding family will retain a significant minority stake in the company and will remain actively involved in the management of the business. The transaction will enable Logoplaste to expand its business and support its clients’ needs in new markets by offering flexible operations for a wide range of bottles and closures in Europe.
Founded more than 25 years ago, Masterchem is a leading Polish manufacturer of PET containers for cosmetics, household chemicals, food products, pharmaceuticals and dietary supplements. The company has a widely diversified portfolio of clients across Europe (annual volume exceeds 500 million units sold to over 1,000 customers).
Logoplaste’s CEO Gerardo Chiaia said: “We are very pleased to announce this partnership with Masterchem. The combination of both companies will allow us to better serve our clients across a diverse range of products, reducing time to market and risk for new product launches, making us more agile and flexible. Masterchem and its team have been able to deliver tremendous growth year-after-year by focusing on its customers and constantly innovating and expanding its product range which includes bottles, jars and closures”.
Wojciech Wasilewski, Masterchem’s Managing Director, stated: “Logoplaste, as a highly innovative and global packaging company, is a perfect partner for Masterchem. I am convinced that this cooperation will enable us to accelerate growth and gain new customers across multiple international markets."
Piotr Wasilewski, Masterchem’s CEO, refered: “I am proud that our coherent, and consistently implemented strategy, of building a leading regional packaging producer, characterized by high technological and qualitative culture has been recognized. We see substantial mutual benefits in our future cooperation and are very excited to become part of Logoplaste Group.”
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