News Code : 43713

Petrotahlil :Logoplaste Group has signed an agreement to acquire a majority stake in Polish PET container manufacturer 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 produces 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 more than 1,000 customers).

Logoplaste’s chief executive Gerardo Chiaia said: “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.”

Piotr Wasilewski, Masterchem’s chief executive, added: “We see substantial mutual benefits in our future cooperation and are very excited to become part of Logoplaste Group.”

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