The Coesia Group invests in Italy and acquires IPI
Coesia Group announces today the acquisition of 100% of IPI s.r.l., a global full system supplier in the field of aseptic carton packaging for liquid products in the food and beverage industry.
With revenues in excess of Euro 50 million and two plants in Perugia, Italy, IPI operates in two areas: on one hand, it produces aseptic filling machines and opening and reclosing fitments for packages, on the other hand, it produces high performance multi-layer carton packaging material combining polyethylene, paper and aluminum foils, suitable for the aseptic filling of milk, juices and sauces.
Over the past years IPI has continuously strengthened its market position, with revenues growing at an average annual rate of about 10%. Fully FDA-compliant, IPI’s products are sold in over 30 countries to some of the leading beverage and sauces manufacturers.
The CEO of IPI, will continue to serve the newly acquired company, supporting the transition of IPI into the Coesia Group and contributing with his long experience to the future success of the business.
“The acquisition of IPI is a further step for Coesia in strengthening its presence in the Consumer Goods packaging industry. IPI is one of less than a handful of companies globally that operates in the highly demanding and fast growing sector of aseptic carton packaging for liquids. We are confident that Coesia’s global network, combined with our engineering capabilities, will provide IPI with an excellent growth platform. This acquisition strategically commits Coesia and its significant competences and resources to serving the specific IPI sector Customers for the long term.” said Angelos Papadimitriou, Chief Executive Officer of Coesia Group.
“With great pride I have seen IPI grow from nothing to today’s successful integrated global player in a very demanding business, but after more than 40 years in the company I felt that my moral duty was to find a way for the company to look beyond myself. With IPI’s entrance in Coesia we have found the truly ideal solution. Coesia’s technology, global presence, long term view, highly professional management team and ambition will take IPI to the next level. With Coesia, IPI will be able to serve its Customers even better and accelerate its growth. This acquisition will represent a growth opportunity for our employees, suppliers and community” said the CEO of IPI.
With forecast 2013 revenues of Euro approximately 1.4 billion, and about 5,700 employees worldwide, Coesia has grown about 75% in the last 4 years. Coesia is a Group of innovation-based industrial solutions companies operating globally, headquartered in Bologna, Italy, and fully owned by Isabella Seràgnoli. With 85 operating units (52 of which with production facilities) in 30 countries worldwide, Coesia’s companies are leaders in the sectors of Advanced Automated Machinery, Industrial Process Solutions (production logistics, inline printing and vision inspection systems) and Precision Gears. Coesia’s customers are leading players in a broad range of industries, including Consumer Goods, Tobacco, Healthcare, Aerospace, Racing & Automotive and Electronics.
Coesia Group, with the acquisition of IPI, consists of fourteen companies, headquartered in seven different nations: G.D, SASIB, ACMAVOLPAK, R.A JONES, GDM, NORDEN, CITUS/KALIX, IPI, FLEXLINK, ADMV, SACMO, HAPA, LAETUS, CIMA.
www.coesia.com