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AXA Private Equity to acquire stake in Bruni Glass

European private equity firm AXA Private Equity has agreed to acquire a majority 70% stake in Bruni Glass, an Italian glass containers producer.

AXA Private Equity managing director and Mid Market Enterprise Capital team leader for Italy Nicolò Saidelli said the company will support Bruni Glass as it enters the next stage of its development.

"AXA Private Equity will work alongside Bruni as it identifies new markets to further expand its international presence. We will also support the Group’s acquisition strategy as it continues to grow in the future," Saidelli said.

The acquisition enables Bruni Glass to accelerate its growth plans and broaden its international network.

Bruni Glass produces containers for wine, champagne, food and pharmaceutical products and reported a turnover of more than €108m in 2011.